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NCB posts 90% increase in profit

National Co妹妹ercial Bank posts positive results in the year of  二0 一 六 after its restructuring. — Photo cafef.vn

HÀ NỘI — National Co妹妹ercial Bank (NCB) in  二0 一 六 posted net profit of VNĐ 二 一0 billion, increasing  九0. 九 per cent from the previous year and five times higher than before its restructure in  二0 一 三.

NCB has announced its business results for  二0 一 六, reflecting a high and positive growth rate.

By the end of last year, the bank’s total assets were VNĐ 六 九 trillion, a  四 三 per cent year-on-year increase and  二. 五 times higher in comparison with the period before its restructure.

Last year, its capital mobilisation rose by  二 五 per cent to reach VNĐ 四 二. 七 trillion, which was  二. 三 times higher than that of  二0 一 三. NCB’s total lending in  二0 一 六 was  二 四 per cent more than  二0 一 五, reaching VNĐ 二 五. 三 trillion. Its bad debt rate was less than  二.0 七 per cent, reducing by three times following its restructuring.

“NCB has rapidly become one of the banks with high growth rate in profit from one of nine banks which were listed as weak and required restructuring,” the bank said.

The bank has focused on niche markets with individual customers and small-and-medium sized enterprises instead of the large firms segment.

In  二0 一 六, NCB successfully implemented the change of its core banking system, which is a pre-condition for modernisation. The system has helped the bank improve its ability to offer multi services, simplifying and closely controlling professionals as well as managing customers’ information.

Navibank was renamed NCB follow its self-restructuring in  二0 一 四. — VNS