The rating is based on Nam A Bank's growth, improved profitability, capital and liquidity buffers, and other criteria within FiinRatings' credit rating methodology.

FiinRatings assesses Nam A Bank's business position as "Appropriate" due to its expansion and diversification in recent years, despite remaining a mid-sized private bank. The report notes that at the end of the first half of 2025, the bank's total assets ranked 17th out of 30 operating banks, representing 1.5% market share. Customer deposits accounted for 1.4% of the market share, ranking 15th, while outstanding loans reached 1.3%, ranking 17th.

Customers transacting at Nam A Bank. Photo: Nam A Bank

Customers transacting at Nam A Bank. Photo: Nam A Bank

According to a bank representative, Nam A Bank maintains business stability thanks to its loyal individual customer base, with a high ratio of term deposits. This creates a secure capital buffer and reduces reliance on wholesale funding. The compound annual growth rate (CAGR) of customer deposits from 2020-2024 reached 8.9% per year. In the first six months of 2025, deposits increased by 24.4% compared to the end of 2024, reaching a record 196.9 trillion dong.

As of the end of 2024, Nam A Bank had 148 branches/transaction offices and 125 OneBank points nationwide. The bank's credit policy focuses on essential sectors less susceptible to economic fluctuations, such as manufacturing, exports, infrastructure construction, and startups, mitigating cyclical risks.

The bank is also expanding its value chain credit, developing SME and individual customers through specialized credit packages, and incorporating "green" and "digital" initiatives for sustainable growth.

FiinRatings also considers the bank's diversification level "Appropriate." From 2025-2026, Nam A Bank aims to expand its digital service ecosystem and promote cross-selling of insurance, investment, and financial advisory services. It also plans to enhance foreign exchange activities and services for overseas Vietnamese, export enterprises, and payments to strengthen its long-term growth platform.

Nam A Bank's modern transaction space, applying high technology. Photo: Nam A Bank

Nam A Bank's modern transaction space, applying high technology. Photo: Nam A Bank

Nam A Bank's capital base and profitability are also rated as "appropriate." The bank's capital adequacy ratio (CAR) at the end of 2024 reached 12.7%, higher than the industry median of 11.8%. The bank plans to increase its charter capital from 13.7 trillion dong to over 18 trillion dong in 2025 to strengthen tier 1 capital and improve its capital structure.

Nam A Bank's profitability is also rated above the industry average. Its net interest margin (NIM) reached 3.3% and return on assets (ROA) reached 1.5% in the first half of 2025, both exceeding the industry median. Operating costs are tightly controlled, with the cost-to-income ratio (CIR) decreasing to about 44% in 2024.

FiinRatings projects that Nam A Bank's CIR will improve and stabilize around 42-43% from 2025-2026, due to digital transformation, operational optimization, and initial investments yielding results. The bank's NIM is expected to remain around 3.5-3.6%, with ROA stable at around 1.5% due to efforts to increase credit growth and expand non-interest income.

Minh Ngoc