Nam A Commercial Joint Stock Bank (Nam A Bank, HoSE: NAB) is expected to submit to shareholders for approval its 2024 business targets and share issuance plan to increase charter capital, at the shareholders' meeting scheduled to take place on March 29.
Accordingly, in 2024, the bank aims to have total assets of VND 232,000 billion, an increase of 11% compared to 2023. Capital mobilization from individuals, economic organizations and issuance of valuable papers will reach VND 178,000 billion, an increase of 9% compared to the previous year.
Outstanding loans to individuals and economic organizations reached VND 160,000 billion, up 13% compared to 2023. In particular, the bank aims to control the bad debt ratio not exceeding 3% and consolidated pre-tax profit of VND 4,000 billion, up 21% compared to 2023.
Regarding the capital increase plan in 2024, Nam A Bank aims to increase capital to over VND 13,700 billion. In 2024, the bank plans to increase by more than VND 3,145 billion, raising its charter capital from over VND 10,580 billion to VND 13,725 billion.
In particular, the bank plans to increase capital from issuing shares from equity (undistributed profits) with more than VND 2,645 billion, equivalent to over 264.5 million shares. At the same time, it will increase capital from issuing shares under the employee stock option program (ESOP) by VND 500 billion, 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; and developing human resources.
Meet the conditions for expanding the network of operations, establishing affiliated companies, subsidiaries, associated companies, contributing capital, 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 planning targets to improve the efficiency of the bank's business operations. Link the interests of employees with the operating results of Nam A Bank.
On March 8, NAB shares were also officially transferred to the HoSE for listing. This is the only bank stock approved by HoSE for listing in 2023. On the stock market, at the end of the session on March 13, NAB shares stood at VND 16,550/share with a trading volume of more than 2.3 million units .
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