NCB Elects New BOD, Plans to Increase Charter Capital to Over VND 29 Trillion

On 24 December 2025, the National Citizen Commercial Joint Stock Bank (NCB) (ticker symbol: NVB) successfully convened its Extraordinary General Meeting of Shareholders, approving the election of the Board of Directors and the Supervisory Board for the new term, finalizing the capital increase plan for 2026, and passing several other matters.

Strengthening Senior Management Structure, Targeting Early Completion of the Restructuring Plan

At this Meeting, the Bank submitted to the General Meeting of Shareholders (GMS) the proposal to elect the Board of Directors (BOD) comprising 8 members and the Supervisory Board (SB) comprising 5 members for the new 2025-2030 term, in accordance with the new standards of the Law on Credit Institutions 2024.

As a result, Ms. Bui Thi Thanh Huong continued to be elected as Chairwoman of the BOD of NCB, with Ms. Hoang Thu Trang elected as Vice Chairwoman. Other members of the BOD for the 2025-2030 term include Mr. Duong The Bang, Ms. Nguyen Thi Hai Hoa, Ms. Trinh Thanh Mai, and Mr. Ta Kieu Hung. The two independent BOD members are Ms. Do Thi Thu Huong and Ms. Lam Thuy Dung.  

The re-election of existing BOD members and the Bank’s Chief Executive Officer to the new-term BOD reflects shareholders’ confidence in the leadership, governance, and management capabilities of NCB’s senior management team in driving the Bank’s outstanding development over the past more than four years.

Board of Directors of National Citizen Commercial Joint Stock Bank for the 2025-2030 Term

The GMS also approved the Supervisory Board for the 2025-2030 term, comprising 5 members: Ms. Do Thi Duc Minh – Head of the Supervisory Board, Ms. Pham Thi Hien, Mr. Le Van Quy, Ms. Vu Kim Phuong, and Mr. Nguyen Viet Son.

The consolidation of the senior management structure with dedicated, capable, and experienced professionals possessing deep expertise in finance and banking as well as modern corporate governance capabilities marks a new and positive milestone, especially as NCB is making very encouraging progress in implementing its restructuring plan and new strategic direction. On this basis, NCB stated that it will develop and implement an effective, focused, and flexible strategy for the next phase, based on transparency and optimal resource utilization, targeted investments, standardization of banking operations, and enhanced risk control aligned with international standards, with the objective of successfully completing the restructuring plan as set out.

Ms. Bui Thi Thanh Huong Shares with Shareholders at the Meeting

Speaking at the Meeting, Ms. Bui Thi Thanh Huong, Chairwoman of the BOD, stated, “After more than four years of comprehensive restructuring, NCB has taken firm and well-oriented steps and achieved proud results. Today’s Meeting holds special significance, not only as a meeting to implement matters in accordance with the new regulatory standards, but also as a milestone marking a new phase: strengthening the senior management structure and elevating NCB’s overall capabilities to a new level, ready for the Bank’s strong acceleration journey.”

Previously, NCB had also strengthened its senior management structure during the 2020-2025 term, effectively meeting the requirements of comprehensive restructuring, fundamentally addressing legacy issues, remedying existing shortcomings, and enhancing operational efficiency. As a result, after more than four years of restructuring, the Bank has achieved notable outcomes.

In 2025, NCB completed its third charter capital increase within four consecutive years, raising total charter capital to VND 19.280 trillion, one year ahead of the roadmap set out in the restructuring plan, placing NCB among banks with high charter capital in the market.

Alongside enhanced financial capacity, NCB has decisively and vigorously implemented business activities and comprehensive digitalization, achieving many positive results. In 2025, NCB exceeded all business targets after only nine months. Profit after tax for the first nine months of 2025 reached over VND 652 billion, showing strong growth compared to the same period in 2024. Total assets as of 30 September 2025 exceeded VND 154.100 trillion, up 30% compared to the end of 2024 and exceeding the plan by 14%. Capital mobilization (excluding issuance of valuable papers) reached nearly VND 119.326 trillion, up 24% compared to the end of 2024 and exceeding the 2025 plan by 1%. Customer loans exceeded VND 94.956 trillion, up 33% compared to the end of 2024 and exceeding the 2025 plan by 3%.

The Presidium Responds to Shareholders During the Discussion Session

With effective solutions in place, NCB is currently exercising strong control over asset quality. The handling and recovery of non-performing loans and legacy assets, provisioning and reversal of accrued interest, as well as the non-performing loan ratio over total outstanding customer loans, are all being well controlled in line with the restructuring roadmap. Meanwhile, the non-performing loan ratio for new disbursements since 30 June 2024 remains very low at only 0.2%, with credit quality improving positively and the portfolio of income-generating assets expanding significantly.

These results not only affirm the strong momentum of a bank undergoing restructuring in the right and effective direction, but also validate the soundness of the strategy and the appropriate, methodical solutions chosen by NCB.

Continuing to Increase Charter Capital by an Additional VND 10 Trillion in 2026

At the Meeting, the BOD also submitted to shareholders a plan to further increase charter capital by VND 10 trillion in 2026 through a private placement of shares, with an offering price of not less than VND 10,000 per share. The offering is intended for professional securities investors in accordance with the Securities Law and with adequate financial capacity.

Upon completion of the capital increase, NCB’s charter capital will rise from VND 19.280 trillion to nearly VND 29.280 trillion. The entire proceeds from the offering are expected to be used to supplement capital sources for credit extension activities to corporate and individual customers serving production, business, and consumption purposes.g.

Overview of NCB’s Extraordinary General Meeting of Shareholders 2025

Sharing at the Meeting, the Chairwoman of the BOD stated that charter capital is one of the key criteria determining the level of safety in banking operations as well as the Bank’s capacity for sustainable development in the future. The continued capital increase not only demonstrates NCB’s commitment and determination to regulators, shareholders, and customers regarding strategic and breakthrough changes in the coming period, but also serves as a foundation for accelerating the implementation of the restructuring plan to achieve, or even exceed, set objectives, ensuring safe and efficient development and contributing to community development.

At the conclusion of the Meeting, the proposal on the aforementioned capital increase was approved by the General Meeting of Shareholders with a rate of 99.99%. Proposals on extending the Bank’s operating term to 99 years, as well as on amending and supplementing the Charter and the regulations on organization and operation of the BOD, were also approved by shareholders with an almost absolute majority.