Nam A Commercial Joint Stock Bank (Nam A Bank, HoSE:NAB) is expected to submit to shareholders for approval of 2024 business targets and share issuance plan to increase charter capital, at the shareholders' meeting scheduled to take place on March 29th here.
Accordingly, in 2024, the bank targets total assets of 232.000 billion VND, an increase of 11% compared to 2023. Mobilizing capital from individuals, economic organizations and issuing valuable papers reached 178.00 billion VND, an increase 9% compared to the previous year.
Outstanding loans to individuals and economic organizations reached 160.000 billion VND, an increase of 13% compared to 2023. In particular, the bank aims to control the bad debt ratio to not exceed 3% and consolidated pre-tax profit to 4.000 VND. billion VND, an increase of 21% compared to 2023.
Regarding the capital increase plan in 2024, Nam A Bank aims to increase capital to over 13.700 billion VND. In 2024, the bank is expected to increase more than 3.145 billion VND, raising charter capital from over 10.580 billion VND to 13.725 billion VND.
In particular, the bank plans to increase capital from issuing shares from equity (undistributed profits) with more than 2.645 billion VND, equivalent to over 264,5 million shares. At the same time, the capital increase from issuing shares under the employee selection program (ESOP) is 500 billion VND, equivalent to issuing 50 million shares.
The purpose of increasing charter capital is to strengthen financial capacity to meet the needs of developing banking activities such as purchasing and investing in fixed assets; improving facilities; improving banking technology; human resource development.
Meet the conditions for expanding the operating network, establishing affiliated companies, subsidiaries, affiliated companies, contributing capital, and purchasing shares according to the provisions of law. Increase capital scale to expand business activities such as lending and other banking services, while ensuring the implementation of planned targets to improve the efficiency of the bank's business operations. Linking employee benefits with Nam A Bank's operating results.
On March 8, NAB shares also officially changed listing on HoSE. This is the only bank stock approved by HoSE to register for listing in 3. On the stock market, ending the session on March 2023, NAB stock stood at the price of 13 VND/share with trading volume. more than 3 million units.
