ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Finance

Joint Stock Commercial Bank for Foreign Trade of 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.

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.

Financial Highlights

Dec 2020 VNDUSD
Revenue86,496.41B3,722.54M
Gross Profit----
Operating income23,166.88B997.03M
Income before tax23,049.56B991.98M
Net income16,579.90B713.54M
EBITDA----
Diluted EPS4,470.320.19
Dividends Per Share----
Total Assets1,326.23T57,456.08M
Total liabilities1,232.13T53,379.62M
Total equity94,009.95B4,072.78M
Operating cash flow34,094.78B1,467.33M
Currency in VNDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 46,598.92B 56,641.86B 70,595.01B 83,791.27B 86,496.41B
Gross Profit -- -- -- -- --
Operating income 8,531.13B 11,281.52B 18,417.97B 23,333.90B 23,166.88B
Income before tax 8,578.14B 11,341.36B 18,269.22B 23,211.57B 23,049.56B
Net income 5,457.91B 7,567.51B 12,894.86B 16,306.07B 16,579.90B
EBITDA -- -- -- -- --
Diluted EPS 1,517 2,103 3,584.12 4,406.26 4,470.32
Dividends Per Share 800 800 800 800 --
Total Assets 787,935.08B 1,035.29T 1,074.02T 1,222.81T 1,326.23T
Total liabilities 739,789.53B 982,735.32B 1,011.84T 1,141.85T 1,232.13T
Total equity 48,002.03B 52,468.63B 62,110.39B 80,870.87B 94,009.95B
Operating cash flow 4,287.01B 9,826.80B 14,938.16B 18,269.19B 34,094.78B
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 2,083.54M 2,493.39M 3,065.88M 3,607.37M 3,722.54M
Gross Profit -- -- -- -- --
Operating income 381.44M 496.61M 799.87M 1,004.56M 997.03M
Income before tax 383.54M 499.24M 793.41M 999.30M 991.98M
Net income 244.03M 333.12M 560.01M 702.00M 713.54M
EBITDA -- -- -- -- --
Diluted EPS 0.06 0.09 0.15 0.18 0.19
Dividends Per Share 0.03 0.03 0.03 0.03 --
Total Assets 34,602.56M 45,589.55M 46,304.22M 52,770.03M 57,456.08M
Total liabilities 32,488.23M 43,275.14M 43,623.50M 49,276.48M 53,379.62M
Total equity 2,108.03M 2,310.47M 2,677.74M 3,489.95M 4,072.78M
Operating cash flow 191.68M 432.57M 648.75M 786.52M 1,467.33M

Valuation Measures

Dec 2020
PER21.89
ROA1.30%
ROE18.96%
Operating margin26.78%
Profit margin19.16%

Key executives

  • Chief Executive Officer & Director: Dung Quang Pham
  • Deputy Chief Executive Officer: Tuan Minh Dao
  • Deputy Chief Executive Officer: Thuy Nga Thi Truong
  • Director & Deputy Chief Executive Officer: Eiji Sasaki
  • Deputy Chief Executive Officer: Hao Dao

Shareholders

  • Government of Vietnam (74.8%)
  • Mizuho Financial Group, Inc. (15.0%)
  • Dragon Capital Management Co. Ltd. (0.9%)
  • JPMorgan Asset Management (Singapore) Ltd. (0.3%)
  • Norges Bank Investment Management (0.2%)
  • T. Rowe Price Hong Kong Ltd. (0.2%)
  • Pictet Asset Management Ltd. (0.1%)
  • Tian Hong Asset Management Co., Ltd. (0.1%)
  • Van Eck Associates Corp. (0.1%)
  • AllianceBernstein LP (0.1%)

Contact Details

Related Companies

  • Vietnam Finance Co. Ltd.
  • Vietcombank Finance Leasing Co.
  • Vietcombank Securities Co. Ltd.
  • Vietcombank Tower 198 Co. Ltd.

Competitors

    Last Updated on 3 Dec, 2021

    Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

    Celebrate our next chapter
    Free access for everyone - Sep. 30

    Find out more