In the first 6 months of 2024, the world economy continues to face many difficulties, inflation and interest rates are still anchored at high levels. In that context, the Government and the State Bank (SBV) have implemented a series of solutions to stabilize the macroeconomy and control inflation. Under the flexible and timely management of the State Bank, commercial banks, including Nam A Bank, continue to operate stably, maintaining sustainable development momentum.
As the only bank in the banking system with shares listed on HoSE in the past 6 months, Nam A Bank continues to affirm its sustainable development with positive operating results. In particular, pre-tax profit in the first 6 months of 2024 broke through, reaching more than 2,200 billion VND (more than 55% completed compared to the 2024 plan), total assets of Nam A Bank reached more than 228,000 billion VND (completed 98,000 VND). 7% compared to the 2024 plan), operational safety indicators exceed SBV regulations...
Specifically, Nam A Bank's pre-tax profit in the first 6 months of 2024 reached VND 2,217 billion (up 45.4% over the same period in 2023, completing 55.4% of the 2024 plan). As of June 30, 2024, Nam A Bank's total assets reached more than 228,000 billion VND (an increase of 14.3% over the same period in 2023, completing 98.7% of the 2024 plan).
Capital mobilized from residents and economic organizations grew well, reaching nearly 173,000 billion VND (up more than 9.4% over the same period in 2023, completing 97.1% of the 2024 plan); Outstanding customer loans grew in accordance with the credit growth limit licensed by the State Bank, reaching nearly 157,000 trillion VND (up 21.2% over the same period in 2023)...
Notably, this is the second consecutive quarter that Nam A Bank recorded a profit of more than 1,000 billion VND/quarter. Of which, net interest income increased by 834 billion VND, equivalent to an increase of 27% over the same period in 2023.
The positive point is that Nam A Bank's NIM grew well at 3.7% in the context of narrowing interest rates and customer lending margins, thanks to optimal solutions for profitable asset structure and structure. mobilize.
The cost/total operating income ratio (CIR) at NAB in the second quarter of 2024 has improved efficiency, the second quarter CIR is close to 40% - the lowest level in the last 5 years.
For many years, Nam A Bank has strongly transformed digitally as well as expanded its scale of operations across provinces and cities nationwide. Although operating costs increase, CIR gradually improves over the years.
Moreover, the safety indicators in operations far exceed the level prescribed by the State Bank. Nam A Bank has also complied with liquidity indicators and completed the implementation of risk management standards according to Basel III standards. Capital adequacy ratio CAR reached over 11.38% (minimum according to regulations of the State Bank is 8%), ratio of outstanding loans to mobilization LDR reached 76.06% (maximum according to regulations of the State Bank is 85 %), liquidity reserve ratio LCR 17.35% (minimum according to SBV regulations is 10%), 30-day VND solvency ratio reached over 73.41% (minimum according to SBV regulations is 50%), the ratio of short-term capital for medium and long-term loans is 14.13% (maximum according to regulations of the State Bank is less than 30%). Nam A Bank still maintains a stable and safe liquidity strategy. Bad debt is well controlled according to regulations of the State Bank (down 0.15 percentage points compared to the same period in 2023).
In the past 1st and 2nd quarters, Nam A Bank made many important marks in the market such as: Moody's upgraded Nam A Bank's credit rating in 2 categories: asset quality from B3 to B2 and profits and profitability indicators from B2 to B1, and at the same time ranked the issuer with a "stable" outlook. Developing green credit is one of the key activities that Nam A Bank actively deployed and completed the handover of the ESMS environmental and social risk management system with Pacific Risk Advisors LTD (PRA), marking An important stepping stone in implementing and perfecting the pillars to progress to Green Bank level 5...
Nam A Bank representative said: "Faced with a challenging market context, Nam A Bank has implemented the right strategy and high adaptability to create sustainable growth momentum in the first 6 months of 2024. This It is also an important premise for Nam A Bank to complete its goals for the year and soon realize its strategy of becoming one of the top 15 strongest banks in Vietnam."
