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Finance

Joint Stock Commercial Bank for Foreign Trade of Vietnam

  • 65,000.00 VND
  • -500.00
  • -0.76%
  • Vietnam
    Mar 25, 2019
  • Ticker
    STC(VCB)
  • Prev. close
    65,500
  • Market cap (VND)
    242,931.47B
  • Market cap (USD)
    10,471.40M
  • Shares
    3,708.87M

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 2018 VNDUSD
Revenue70,573.00B3,064.93M
Gross Profit----
Operating income18,237.38B792.03M
Income before tax18,299.82B794.74M
Net income14,674.47B637.30M
EBITDA----
Diluted EPS----
Dividends Per Share----
Total Assets1,072.98T46,259.25M
Total liabilities1,007.73T43,446.34M
Total equity63,889.08B2,754.43M
Operating cash flow16,686.24B724.67M
Currency in VNDCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 34,704.63B 38,844.89B 46,598.92B 56,641.86B 70,573.00B
Gross Profit -- -- -- -- --
Operating income 5,500.41B 6,662.15B 8,531.13B 11,281.52B 18,237.38B
Income before tax 5,844.06B 6,827.45B 8,578.14B 11,341.36B 18,299.82B
Net income 3,780.03B 4,332.56B 5,457.91B 7,567.51B 14,674.47B
EBITDA -- -- -- -- --
Diluted EPS 1,135.55 1,204.44 1,517 2,103 --
Dividends Per Share 740.74 740.74 800 800 --
Total Assets 576,995.65B 674,394.64B 787,935.08B 1,035.29T 1,072.98T
Total liabilities 533,522.88B 629,222.29B 739,789.53B 982,735.32B 1,007.73T
Total equity 43,324.91B 45,007.04B 48,002.03B 52,468.63B 63,889.08B
Operating cash flow 21,767.75B -6,969.97B 4,287.01B 9,826.80B 16,686.24B
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 1,637.06M 1,771.67M 2,083.54M 2,493.39M 3,064.93M
Gross Profit -- -- -- -- --
Operating income 259.46M 303.85M 381.44M 496.61M 792.03M
Income before tax 275.67M 311.39M 383.54M 499.24M 794.74M
Net income 178.30M 197.60M 244.03M 333.12M 637.30M
EBITDA -- -- -- -- --
Diluted EPS 0.05 0.05 0.06 0.09 --
Dividends Per Share 0.03 0.03 0.03 0.03 --
Total Assets 26,978.17M 29,993.09M 34,602.56M 45,589.55M 46,259.25M
Total liabilities 24,945.54M 27,984.09M 32,488.23M 43,275.14M 43,446.34M
Total equity 2,025.71M 2,001.64M 2,108.03M 2,310.47M 2,754.43M
Operating cash flow 1,026.81M -317.89M 191.68M 432.57M 724.67M

Valuation Measures

Dec 2018
PER13.14
ROA1.39%
ROE25.22%
Operating margin25.84%
Profit margin20.79%

Key executives

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

Shareholders

  • Government of Vietnam (74.8%)
  • Mizuho Financial Group, Inc. (15.0%)
  • GIC Pte Ltd. (Investment Management) (2.5%)
  • Norges Bank Investment Management (0.4%)
  • JPMorgan Asset Management (Singapore) Ltd. (0.3%)
  • Dragon Capital Management Co. Ltd. (0.2%)
  • Van Eck Associates Corp. (0.2%)
  • Capital Asset Management Co., Ltd. (0.1%)
  • Daiwa Asset Management (Singapore) Ltd. (0.1%)
  • T. Rowe Price International Ltd. (0.0%)

Contact Details

Related Companies

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

Competitors

  • Military Commercial Joint Stock Bank
  • Joint Stock Commercial Bank for Investment and Development of Vietnam
  • Sacombank Securities Joint Stock Company
  • VietinBank Securities JSC
Last Updated on 25 Mar, 2019

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