At the same time, Nam A Bank affirms its position in the market with many outstanding activities in technology and risk management, the only bank approved by HOSE for listing in 2023.
In 2023, the world economy in general and Vietnam in particular will face many challenges due to geopolitical crisis combined with strategic competition between major powers. In this context, with the right strategy, adapting to new circumstances, Nam A Bank ensures safety in operations, grows in scale, and affirms business efficiency.
Customers transact at Nam A Bank.
Accordingly, as of December 31, 2023, total assets reached more than VND 210,000 billion, an increase of more than 18% compared to the beginning of the year, joining the group of 20 banks with the largest total assets in the system.
Other important indicators include: capital mobilization reached nearly 165,000 billion VND, up nearly 20% compared to the beginning of the year, outstanding loans reached nearly 142,000 billion VND, up more than 18% compared to the beginning of the year. The positive point is that NIM continues to be stable at over 3.3% in the context of narrowing interest rate margins for customer mobilization and lending, thanks to optimal solutions for profit-generating asset structure and mobilization structure.
As a pioneer bank in digitalization, last year, Nam A Bank continued to develop the Digital Banking Ecosystem with high-tech products and services. Thanks to that, the number of customers and banking users recorded a breakthrough growth compared to the beginning of 2023. The number of active customers increased by 85.3% over the same period, the user banking index increased by nearly 95%.
In addition, by meeting most banking transactions, including holidays, bringing new experiences in technology and consumption, the ONEBANK 365+ automatic digital transaction point has attracted a large number of customers. By the end of 2023, ONEBANK alone has achieved impressive results compared to the beginning of the year such as: capital mobilization reached more than 170%, active customers increased by 240.3%, User Banking increased by nearly 200% compared to the beginning of the year...
Thanks to the very positive results in financial capacity combined with the results of debt recovery, Nam A Bank has created the necessary resources for it to clear the debt sold to VAMC in 2023. The proactive early repayment of VAMC special bonds is expected to create a solid foundation for Nam A Bank's business operations in the coming years, while increasing the bank's initiative in developing and adjusting debt settlement plans to achieve optimal efficiency.
In fact, to buy back all bad debts at VAMC, the bank's on-balance sheet bad debts must be at a low level and have abundant financial resources to set aside provisions to handle the debt after receiving it. By the end of 2023, NAB's on-balance sheet and off-balance sheet bad debts will be 2.11% in a context of many macroeconomic difficulties.
The above positive growth momentum has contributed to helping Nam A Bank record positive results in terms of net profits compared to the beginning of 2023, such as: Net interest income reached more than VND 6,600 billion (up more than 30%), net profit from service activities reached nearly VND 600 billion (up 116%), net profit from other activities reached more than VND 330 billion (up 10.1%)... From there, helping the Bank's pre-tax profit in 2023 reach more than VND 3,300 billion, up 50% over the same period in 2022. This also contributed to creating momentum for Nam A Bank to enter the top 12 banks with the best growth in 2023.
Furthermore, the operational safety indicators far exceed the regulations of the State Bank. Nam A Bank has also complied with liquidity indicators, achieving the criteria of Basel III.
To be in the top 12 best growing banks, Nam A Bank has proactively deployed a series of comprehensive digitalization solutions, focusing on developing green credit early, enhancing governance capabilities to ensure outstanding efficiency and sustainability. In particular, anticipating that the domestic and foreign economic situation will still face many challenges, the Bank has strengthened its good risk management system, pioneering the application of international standards.
In 2023, the Bank has further strengthened the most advanced components of Basel as well as international financial reporting standards. Specifically, Nam A Bank announced the completion of the implementation of the credit risk component according to the Basel II - FIRB internal credit rating method and continued to complete the development of methodologies and tools according to Basel III - Reforms standards. Nam A Bank and Ernst & Young Vietnam held a handover ceremony of the project to implement the international financial reporting standards IFRS...
In 2024, the domestic economy continues to face many challenges in a volatile global environment. In this context, Nam A Bank operates its business in a prudent - sustainable - effective manner to bring practical values to shareholders, partners, customers and the community.
| With its efforts in business activities, in 2023, Nam A Bank received many prestigious awards at home and abroad such as: Outstanding Risk Management Bank, Most Innovative Digital Banking Ecosystem in Vietnam, Inspiring Products and Solutions, Best Workplace in Asia, Most Innovative Retail Bank in Vietnam, Bank with the Best International Payment Services in Vietnam... |
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