From Resilience to Aspiration: NCB Continues Its 30-Year Journey of Breakthroughs

From a small bank in the South to a pioneering credit institution in restructuring and transformation, National Citizen Commercial Joint Stock Bank (NCB) has demonstrated the power of resilience and aspiration. The 30-year journey marks not only a milestone of maturity but also the beginning of a new and vibrant chapter of growth.

The Journey of Transformation

Thirty years ago, NCB began as a small bank in Southern Vietnam. Through perseverance in building internal strength, expanding its network, and upgrading its operating model, the name National Citizen Bank gradually took shape between 2010 and 2020—with the ambition to become a modern, friendly, and customer-centric retail bank. Facing challenges of scale, technology, and fierce competition, NCB chose to move forward steadily, “compressing its strength” in preparation for a breakthrough phase.

NCB focuses on developing a high-quality workforce.

The year 2021 marked a turning point when NCB initiated a comprehensive restructuring. Under the leadership of a capable, visionary, and dedicated management team, the Bank defined a clear strategic direction—shifting strongly from credit to retail and digital banking while making significant investments in technology, including 33 technology projects and 8 key digital transformation initiatives. Simultaneously, NCB strengthened its internal control system by implementing ICAAP in accordance with Basel II standards and pursuing a roadmap to enhance its risk management framework under the advisory of KPMG—advancing toward international best practices.

These efforts not only improved NCB’s competitiveness but also opened a completely new trajectory for the Bank’s development.Only three years after launching its comprehensive restructuring, NCB was recognized by the market as a “small bank with great strength.” The Bank was honored for the first time as one of the Best Companies to Work for in Asia by the HR Asia Awards after 28 years of operation and continued to affirm its competitiveness through various prestigious awards.

The defining “departure” of NCB came in 2023, when the Bank relocated its headquarters to a prime location in the heart of Hanoi and signed a partnership with one of the world’s leading strategic advisory firms to design a long-term development strategy with the ambition of becoming the best provider of financial services and solutions.

In 2023, NCB moved its headquarters to a prime location in central Hanoi.

The Aspiration to “Redefine the Banking Experience” in Vietnam

In June 2024, NCB became the first credit institution in Vietnam to complete and receive approval for its Restructuring Plan under the consultation of Ernst & Young (E&Y) and KPMG—marking an “Alpha leap” and officially entering a new growth trajectory.

Together with leading global strategic consultants, NCB also implemented a new long-term strategy with the ambition of becoming the best provider of financial services and solutions.

NCB concluded 2024 with impressive figures: successfully increasing its charter capital for the second consecutive year (2022–2024), bringing the total to nearly VND 11,780 billion; surpassing VND 118,000 billion in total assets, up over 23% from 2023; expanding its customer base by nearly 40%; increasing CASA by 54%; and achieving 111% of its lending target. Among banks of similar scale from 2021–2024, NCB made significant progress—with total assets rising 60%, outstanding loans increasing 70%, deposits growing nearly 50%, and non-performing loans kept within the targets set in its Restructuring Plan. Notably, the charter capital increase beyond VND 10,000 billion officially elevated NCB into the mid-sized banking group.

NCB was honored with a double win at the HR Asia Awards 2025.

With a breakthrough HR strategy, NCB quickly became a new “destination” within the industry, earning a double recognition: Best Companies to Work for in Asia and Tech Empowerment Enterprise at the HR Asia Awards 2025.

The year 2025 marked NCB’s “comeback” with exceptional growth: cumulative profit after tax for the first half reached over VND 462 billion, a sharp increase from VND 6 billion during the same period in 2024. Total assets exceeded VND 144,000 billion, 6.3% higher than the full-year target. Loan disbursements reached 94% of the plan, and capital mobilization surpassed 1.4% of the target. NCB also became the first bank to allow customers to open payment accounts via the VNeID application and launched the RLOS system, creating a breakthrough in lending experience with loan approval times of just five minutes.

Building a New NCB – Distinctive and Sustainable

In 2025, marking its 30th anniversary, NCB plans to raise its charter capital to VND 19,280 billion—earlier than the timeline set in the PACCL. This strategic move will strengthen the Bank’s financial foundation, increase long-term capital, and expand sustainable business operations.

From the early days of transformation, instead of viewing its small scale as a limitation, NCB turned it into an advantage—demonstrating agility in decision-making, responsiveness in execution, and boldness in choosing a differentiated path. The Bank leveraged knowledge, technology, and global expertise from strategic partners to accelerate its breakthroughs.

With creativity and agility, NCB introduced a unique financial product line in 2025—the Tu Hao Platinum Visa Card—the first card in Vietnam to combine modern financial value with national heritage, symbolizing Vietnamese pride on the global stage.

The NCB Visa Tu Hao card features two special editions.

The Bank has also outlined its 2025–2030 roadmap with the Digital Wealth Strategy, aiming to build a new-generation bank that provides pioneering, innovative, and distinctive financial solutions, while contributing to the nation’s development in the era of global integration.

“NCB is accelerating—ready to create difference, innovation, and breakthroughs amid national opportunities and the country’s rising era—to become one of the most reputable, sound, and efficient banks, providing the best financial services and solutions, and the top choice for investors and customers in Vietnam,” shared Ms. Hoang Thu Trang, Vice Chairwoman of NCB’s Board of Directors.

Thirty years—a long enough journey to look back on remarkable milestones, and mature enough to leap forward into the future. NCB continues to evolve, boldly restructuring, turning challenges into opportunities, and breaking through to embark on the next chapter—radiant, sustainable, and full of aspiration in Vietnam’s era of prosperity and strength.