National Citizen Commercial Joint Stock Bank (NCB - stock code: NVB) held its 2025 annual general meeting of shareholders on March 29.

At the meeting, shareholders were concerned about the progress of handling the assets of more than 200 million Bamboo Airways shares owned by NCB. Answering questions, NCB Board Chairwoman Bui Thi Thanh Huong said that in 2022, when Bamboo Airways' parent company, FLC, encountered difficulties, the bank found a partner to purchase these shares. The proceeds from the transaction are expected to ensure full compensation for the principal and related interest.

However, after the Covid-19 pandemic, the aviation industry continued to struggle due to the engine crisis. This has caused aviation businesses around the world in general, and the Vietnamese market in particular, to continue to face a serious crisis. In that context, the partner who bought back the above shares has requested an extension of payment until 2026 at the latest.

Ms. Huong emphasized that if this investment is recovered as planned, NCB can record an extraordinary income, significantly improving its financial situation. Currently, the bank is still making provisions cautiously.

Another shareholder questioned the roadmap to remove NCB shares from the warning list after two consecutive years of losses. Responding to this issue, Chairwoman Bui Thi Thanh Huong said the bank aims to be profitable by the end of 2025 or at the latest in 2026, thereby helping the bank's shares escape the warning list.

"A listed company is allowed to lose for a maximum of two consecutive years. If it makes a profit in the third year, it proves that the bank has returned to normal operations. We hope that from 2026, shareholders will receive more positive information from the bank," Ms. Huong shared.

One of the contents approved at the meeting was the plan to increase charter capital from VND11,780 billion to VND19,280 billion, through the private issuance of 700 million shares, with the offering price not lower than VND10,000/share.

The issuance is expected to take place in the second and fourth quarters of this year, after being approved by the State Bank and the State Securities Commission. The bank said the proceeds will be used to supplement business capital, set aside risk reserves, and support restructuring activities.

Previously, from 2021 to present, the bank has undergone 2 capital increases, raising its charter capital from 4,100 billion VND to nearly 11,780 billion VND.

Last year, NCB recorded a loss of more than VND 5,100 billion, an increase of more than 7 times compared to the loss of nearly VND 670 billion in 2023. The bank's total assets reached VND 118,559 billion, achieving 112% of the previously set plan; total outstanding loans reached VND 71,175 billion, equal to 111% of the plan; capital mobilization from residents reached VND 100,489 billion, equal to 117% of the plan...

In 2025, NCB plans to increase its total assets and customer deposits by 14.6% and 23.2% respectively compared to 2024; customer loans by 30%. After 2 consecutive years of losses, NCB aims for a profit of VND59 billion.

Revealing the business results of the first quarter of 2025, General Director Ta Kieu Hung said that the signals in the first months of 2025 are very positive in terms of total revenue. According to Mr. Hung, the revenue of the first quarter is expected to exceed the set plan by about 25%.