Asia300

Joint Stock Commercial Bank for Foreign Trade of Vietnam

Vietnam

  • 1m
  • 3m
  • 6m
  • 1y
  • 2y
  • 5y
Mar 24, 2017
Prev close: 38,000
Mar 24, 2017
Market cap:
Market cap(USD):
136,715B
5,999.57M
Shares: 3,597.77M

Currency in VND

Company profile

Market(Ticker): STC(VCB)
Sector:
Industry:
Finance
Regional Banks
Full time employees: --

Business summary

Joint Stock Commercial Bank for Foreign Trade of Vietnam engages in the provision of commercial banking services. It operates through following segments: Banking Services, Non-banking Financial services, Securities, and Other. It offers traditional banking services such as international settlement and trade finance, fund mobilization, lending, and project finance. It also provides modern banking services, which include treasury and derivatives, card service, e-banking, and securities trading and investment. The company was founded on January 20, 1955 and is headquartered in Ha Noi, Vietnam.

Company background

Commercial Bank for Foreign Trade of Vietnam (Vietcombank) was spun off from the State Bank of Vietnam and is one of Vietnam's four largest state-run commercial banks. It has been a major player in international trade payment settlement and is also boosting retail lending.

While the bank was listed on the Hochiminh Stock Exchange in 2009, the government still holds a sizable 77% stake. The remainder is held by foreign investors, including Japan's Mizuho Bank, which holds a 15% interest, the second largest. Market capitalization is about $3 billion.

CEO Nghiem Xuan Thanh previously was deputy CEO at Vietinbank, one of the four largest state-run commercial banks. Officials from Mizuho Bank also work at Vietcombank.

The bank is forging ties with Japan's regional lenders and has partnered with Fukui Bank and Toho Bank, a Fukushima Prefecture-based concern, with a view to enticing smaller Japanese companies to set up shop in Vietnam.

Vietcombank, which is highly profitable in the domestic market, is setting its sights on global markets. It aims to become one of the world's 300 largest banking institutions in terms of profitability and deposits by 2020.

In the news

Financial highlights

Dec 2016

  • Local currency
  • US Dollar
Revenue 44,381.75B
Gross profit --
Operating income 8,470.14B
Income before tax 8,517.31B
Net income 6,825.74B
EBITDA --
Diluted EPS --
Dividends per share 0
Total assets 788,169.08B
Total liabilities 738,874.22B
Total equity 49,151.27B
Operating cash flow 3,264.01B

Currency in VND

Revenue 1,984.41M
Gross profit --
Operating income 378.72M
Income before tax 380.82M
Net income 305.19M
EBITDA --
Diluted EPS --
Dividends per share 0
Total assets 34,612.84M
Total liabilities 32,448.03M
Total equity 2,158.50M
Operating cash flow 145.94M

Currency in USD

Valuation measures

Dec 2016

PER 18.68
ROA 0.93%
ROE 14.49%
Operating margin 19.08%
Profit margin 15.37%

Key executive

  • Chief Executive Officer & Director: Dung Quang Pham
  • Director & Deputy Chief Executive Officer: Luong Danh Nguyen
  • Deputy Chief Executive Officer: Tuan Minh Dao
  • Director & Deputy Chief Executive Officer: Yutaka Abe
  • Deputy Chief Executive Officer: Thuy Nga Thi Truong

Share holders

  • Government of Vietnam(77.1%)
  • Mizuho Financial Group, Inc.(15.0%)
  • Morgan Stanley Investment Management, Inc.(0.3%)
  • Van Eck Associates Corp.(0.3%)
  • Norges Bank Investment Management(0.2%)
  • Lion Global Investors Ltd.(0.1%)
  • JPMorgan Asset Management (Singapore) Ltd.(0.1%)
  • Parametric Portfolio Associates LLC(0.1%)
  • Grantham, Mayo, Van Otterloo & Co. LLC(0.1%)
  • Goldman Sachs Asset Management International Ltd.(0.1%)

Address

  • Website: http://www.vietcombank.com.vn
  • Address: 198 Tran Quang Khai Street, Ly Thai To Ward, Ha Noi, 100000, Vietnam
  • Phone: +84.4.3934.3137

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