At the Annual General Meeting of Shareholders in 2020, NCB shareholders approved the plan to increase chartered capital by VND 3,000 billion this year through issuing shares to existing employees.

On June 26, National Citizen Commercial Joint Stock Bank (NCB) organized the Annual General Meeting of Shareholders (GMS) 2020.

At the meeting, the shareholders approved important reports such as: Final report of the 2015-2020 term and operational orientation for the 2020-2025 term of the Board of Directors; Report of the Board of Management on the business results of 2019 and the plan for 2020; Supervisory Report on the term of the term 2015-2020 and directions for the 2020-2025 term of the Supervisory Board; Proposal for adoption of the plan to issue convertible bonds in 2020; Plan to issue shares to increase charter capital in 2020,

Accordingly, NCB AGM approved the business plan of 2020 with the target of net profit from expected business activities of VND 150 billion. The bank aims to increase its total assets to approximately VND 84,500 billion. At the same time, NCB plans to continue to control the bad debt ratio below 3%, the safety level is set by the State Bank.

In 2020, NCB identifies its business plan with the main objectives including: Concentrating maximum resources to implement restructuring solutions; Business Development; Continue to consolidate the organizational model, review to improve operational efficiency; Improving the quality of risk management, promoting debt recovery, handling bad debts; Implementing the plan to increase charter capital; Deploy and respond to Basel II as soon as the capital is raised; Investment in technology development, digital banking

Also at the meeting, the bank’s shareholders approved the plan to increase the chartered capital by VND 3,000 billion to VND 7,000 billion in 2020 by issuing shares to existing staff and shareholders.

According to NCB management, the increase in charter capital will determine the level of success in expanding the scale of operations and increasing the safety of the bank, contributing to the implementation of the goals according to the business strategy. In addition, NCB will continue to implement the restructuring plan associated with dealing with bad debts in the 2019-2020 period, with a vision to 2028 approved by the SBV.

The Meeting also voted to elect the Board of Directors and the Supervisory Board for the term 2020 – 2025. Accordingly, the Board members include: Mr. Nguyen Tien Dung, Mr. Vu Manh Tien, Ms. Tran Hai Anh, Mr. Pham The Hiep, Mr. Nguyen Van Hao, Mr. Bui Duc Long, Mr. Tamaki Kido. Members of the Supervisory Board include: Ms. Tran Thi Ha Giang, Ms. Vu Kim Phuong and Ms. Tran Thi Minh Hue.

Source: vietnambiz.vn