NCB’s AGM Approves 2025 Business Targets with Numerous Positive Indicators

On March 29, 2025, the National Citizen Commercial Joint Stock Bank (NCB) – stock symbol: NVB – successfully held its 2025 Annual General Meeting of Shareholders (AGM). At the meeting, the 2025 business plan featuring many positive targets was approved, along with a proposal to continue increasing charter capital and several other resolutions.

During the meeting, the Board of Directors (BoD) and the Executive Board of NCB presented the business performance report, the activity report of the BoD and the Supervisory Board for 2024, as well as the 2025 business plan. Additionally, the bank submitted to the AGM a proposal to increase charter capital and other related matters.

2025 Annual General Meeting of National Citizen Bank

Accelerating business in 2025 towards building an efficient and sustainable bank

According to reports from the BoD and CEO of NCB, 2024 marked a breakthrough year in NCB’s business performance, with the bank achieving and surpassing the targets set by the AGM. Specifically, total assets reached VND 118.559 trillion, equivalent to 112% of the plan; total outstanding loans reached VND 71.175 trillion, equivalent to 111% of the plan; customer deposits reached VND 100.489 trillion, equivalent to 117% of the plan; CASA grew by 54% compared to 2024, contributing to optimizing capital costs.

By the end of 2024, NCB’s customer base reached 1.346 million, fulfilling 117% of the annual plan and increasing by 34.6% compared to the end of 2023. The number of users of iziMobile increased significantly, reaching 107% of the plan. These consecutive growth figures are strong evidence that NCB’s products and services are increasingly meeting higher customer standards and are widely welcomed, trusted, and chosen by the market.

These results also demonstrate the sound direction and decisive actions of NCB’s leadership and staff in simultaneously pursuing comprehensive restructuring alongside implementing a new strategy amidst a challenging and complex market environment. This approach gradually positions NCB as a reputable, safe, and efficient bank, contributing to the sustainable development of the communities it serves.

Building upon this momentum, in 2025, NCB presented to the AGM a business plan targeting total assets of VND 135.5 trillion, customer deposits of VND 118.5 trillion, representing growth of 14.6% and 23.2% respectively compared to 2024; customer loans are expected to grow by 30%, reaching VND 92.528 trillion. NCB also set a target of pre-provision profit (before risk provisioning - Restructuring Plan) of VND 59 billion, committing to use the entire amount for the approved risk provisioning. Additionally, the bank aims to increase its customer base by an additional 424,000 customers compared to 2024.

Chairwoman Bui Thi Thanh Huong speaking at the AGM

To achieve these results, NCB plans to introduce tailor-made financial solution packages for both retail and corporate customer segments. The focus will be on individual customers in major urban areas with moderate to high incomes, customers within ecosystems of large corporations and partners, while maintaining sales and promotion policies to effectively serve the current customer base. Simultaneously, the bank will prioritize expanding the SME segment, targeting high-tech manufacturing, import-export, renewable energy, and government-funded infrastructure construction enterprises. Efforts will also be strengthened to attract capital from investment funds, FDI enterprises, and companies operating in logistics, tourism, and education.

Notably, in 2025, NCB will vigorously implement its digital transformation strategy, building a solid technology foundation and resources in line with the new strategy. A highlight will be the launch of the AllRise digital banking super-app – a strategic product in the Digital Wealth segment – marking a key milestone in realizing the new strategy. The app is expected to become a "jet engine" that propels NCB in pioneering the development of products and services on cutting-edge technological platforms, enhancing NCB's standing on the digital finance map.

At the end of the meeting, the reports from the BoD, CEO, the 2025 business plan, 2024 financial statements, and numerous other proposals were approved by the AGM with near-unanimous consensus.

Continued Charter Capital Increase by VND 7,500 Billion

Also at the AGM, the BoD proposed a plan to continue increasing the charter capital by VND 7.5 trillion through the private placement of 700 million shares, equivalent to 59.42% of NCB’s charter capital at the time of issuance, with an offering price not lower than VND 10,000 per share.

The expected issuance period is from Q2 to Q4 of 2025, subject to approval from the State Bank of Vietnam (SBV) for the capital increase and notification of receipt of the registration dossier for private share placement by the State Securities Commission of Vietnam.

Upon completion of the capital increase, NCB’s charter capital will rise from the current VND 11.78 trillion to VND 19.28 trillion. The entire proceeds from the offering, estimated at VND 7.5 trillion, will be used to supplement capital for business activities.

The chairing board shares with shareholders at the AGM

Sharing at the AGM, the Chairwoman of the BoD emphasized that charter capital is one of the critical criteria for enhancing financial autonomy, determining the level of operational safety, and supporting the sustainable development potential of the bank in the future.

“NCB has now gathered the necessary momentum and is ready to create impactful differentiation, innovation, and breakthroughs in this era of national advancement. We are committed to robustly investing all resources to meet the demands of this new journey, accelerating the implementation of NCB’s restructuring plan for the 2023–2025 period with a vision to 2030, while rolling out the new strategy with pioneering progress in the financial and banking market,” stated Chairwoman Bui Thi Thanh Huong.

The proposal to increase capital was approved by the AGM with a vote of 99.99%. Previously, on November 26, 2024, NCB had completed increasing its charter capital to VND 11.78 trillion, thereby strengthening its financial capacity to support new strategic objectives.

National Citizen Bank has undergone a remarkable transformation in recent times

During the 2021–2025 period, the BoD and the Supervisory Board of NCB have continuously improved organizational structures and enhanced governance capacity to meet the development demands and business strategies of the bank. With the ongoing appointment of highly experienced senior personnel with professional and managerial expertise, NCB is poised to continue making significant leaps forward in the near future.