On the occasion of the bank's 29th anniversary, we had a conversation with Mr. Ta Kieu Hung – General Director of NCB – about the bank's journey of "turning the tide".
Hello sir! More than two years ago, NCB was known as one of the "tiny" banks in the system and was striving for restructuring. But now, NCB's profile has changed significantly?
The past two years have marked many important milestones for NCB after a period of internal stabilization and laying the foundation for a new phase of development. We are finalizing the necessary procedures to increase our charter capital from VND 5,601 billion to over VND 11,800 billion and expect to complete the capital increase in Q4/2024. According to the roadmap, NCB will continue to increase its capital and expects its charter capital to reach over VND 29,000 billion by 2028.
NCB also inaugurated a new headquarters located in one of the prime locations of Hanoi and restructured its network, upgrading facilities throughout the system. Through these efforts, we expect to bring new experiences to customers and better working conditions for our employees.
The most significant milestone is that NCB, together with a leading global strategic consulting partner, has developed the bank's new strategy and has been aggressively implementing it since the beginning of 2024 with all available resources.
To date, NCB is investing heavily in digital transformation to enhance customer experience and build increasingly strong trust within the community, as evidenced by a series of prestigious awards and positive growth figures, especially in total assets, customer growth, capital mobilization, and service operations, amidst numerous market challenges and restructuring efforts.
So, does this mean the bank also has new goals beyond the restructuring story that has long been known to the market?
Bank restructuring is a journey that demands decisiveness, perseverance, and significant effort. The past year has also been a period of significant progress in our restructuring efforts. With the support of leading international and Vietnamese consulting firms specializing in bank restructuring, NCB has developed a comprehensive bank restructuring plan (PACCL) with a vision extending to 2030.
To date, NCB is the first credit institution in Vietnam to have its PACCL (Practical Acceptance Certificate) reviewed and approved by the State Bank of Vietnam and the competent authority.
We have been urgently and decisively implementing the roadmap since the second quarter and aim to complete PACCL by 2029, making NCB one of the reputable, sound, and efficient banks.
However, the focus on addressing outstanding issues and comprehensively resolving existing problems does not mean we have stopped developing and innovating. As I have shared, NCB is still aggressively implementing its new strategy in parallel, with the highest determination from the entire system and strong investment from all available resources.
We have chosen the right path to become the preferred bank providing financial services and solutions in the market. We call this period a "journey of growth" towards new standards to contribute more to the development of society.
Could you please share more specific details about NCB's new strategy, sir?
NCB has chosen a long-term banking development strategy focused on delivering new experiences in the banking sector through innovative thinking, pioneering the development of products and services based on advanced technology, aiming to become a socially responsible bank, and contributing to the sustainable development of the communities it serves.
Over the next five years, NCB will develop asset management products using technology to cater to the mass market, as the demand for structured, long-term financial investments in this segment is projected to grow strongly in the future.
However, this is also a very challenging market because it is a new field with many barriers for the mass market to participate in and invest professionally in the long term. NCB will strive to bring innovative products with the support of technology to provide customers with financial management solutions similar to international markets, with a simple and modern experience.
In the post-COVID-19 and economic crisis context, the economy in general and the banking sector in particular are facing numerous difficulties and obstacles, yet NCB has chosen to take on a task twice as difficult. Why is that?
Indeed, the COVID-19 pandemic and the economic crisis have had a severe impact, both directly and indirectly, on the banking system, and NCB is no exception.
As a small bank, we face many challenges. But even in the most turbulent times, we are fortunate to always have the unity and strong determination of the entire system—a determination to turn challenges into opportunities. Opportunities for comprehensive transformation, opportunities for evolving into a superior new version, opportunities for those who choose to "squeeze through narrow gaps" to achieve unique success.
What the market perceives as a disadvantage, we see as an advantage. Many call us a "small" bank, but I'd like to use a different phrase to motivate ourselves: a "small but mighty" bank. And it is precisely this small size that allows us to transform and adapt flexibly, alongside defining a sound long-term vision.
NCB can adopt new solutions, models, and technologies more quickly, efficiently, and conveniently. At the same time, we choose to "stand on the shoulders of giants" by partnering with leading global and regional companies such as GCP, E&Y, KPMG, CMC Telecom, LUMIQ, and Zoho Corporation… providing us with the knowledge and technology advantages to embark on our "journey of growth".
In particular, we have also received very close support and guidance from regulatory agencies during the implementation phase of PACCL. This is an extremely important foundation for NCB to confidently move forward on the path of financial transparency.
So, could you please tell us which stage of the journey NCB is currently at?
Our ship has started its flywheel and entered orbit with the concerted efforts of the entire system. NCB has aggressively deployed resources in terms of capital, infrastructure and technological solutions, operational capabilities and human resources, products and services, etc., to meet the demands of comprehensive digital transformation and build a new NCB according to the established strategy.
Over the past year, NCB has signed cooperation agreements to implement a series of solutions such as: Cloud computing and data lake platform on Google Cloud, Customer Relationship Management (CRM) platform, Artificial Intelligence and Machine Learning (AI/ML) platform, Decision Engine project, etc., with leading global technology partners and together with Company Limited.
KPMG Tax and Consulting is implementing projects to improve NCB's internal control system in line with its development strategy over the next five years.
We have the support of many senior personnel, including talented and experienced experts from both within and outside the country, to help NCB implement its transformation roadmap. We are also working diligently to prepare for the launch of our new brand identity and Mobile App with a new interface and truly unique features next year.
Thank you, sir, and I wish NCB continued breakthroughs in its new year!
Source: https://laodong.vn/kinh-doanh/tong-giam-doc-ngan-hang-ncb-chung-toi-chon-huong-di-phu-hop-1396051.ldo
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