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Finance

Joint Stock Commercial Bank for Foreign Trade of Vietnam

  • 59,000.00 VND
  • -1,000.00
  • -1.67%
  • Vietnam
    Apr 24, 2018
  • Ticker
    STC(VCB)
  • Prev. close
    60,000
  • Market cap (VND)
    215,866.11B
  • Market cap (USD)
    9,480.70M
  • Shares
    3,597.76M

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 2017 VNDUSD
Revenue56,641.86B2,493.39M
Gross Profit----
Operating income11,281.52B496.61M
Income before tax11,341.36B499.24M
Net income7,567.51B333.12M
EBITDA----
Diluted EPS2,1030.09
Dividends Per Share----
Total Assets1,035.29T45,589.55M
Total liabilities982,735.32B43,275.14M
Total equity52,468.63B2,310.47M
Operating cash flow9,826.80B432.57M
Currency in VNDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 34,189.92B 34,704.63B 38,844.89B 46,598.92B 56,641.86B
Gross Profit -- -- -- -- --
Operating income 5,747.60B 5,500.41B 6,662.15B 8,531.13B 11,281.52B
Income before tax 5,758.92B 5,844.06B 6,827.45B 8,578.14B 11,341.36B
Net income 4,351.74B 3,780.03B 4,332.56B 5,457.91B 7,567.51B
EBITDA -- -- -- -- --
Diluted EPS 1,209.66 1,135.55 1,204.44 1,517 2,103
Dividends Per Share 772.94 740.74 740.74 800 --
Total Assets 467,459.00B 576,995.65B 674,394.64B 787,935.08B 1,035.29T
Total liabilities 424,231.54B 533,522.88B 629,222.29B 739,789.53B 982,735.32B
Total equity 43,077.88B 43,324.91B 45,007.04B 48,002.03B 52,468.63B
Operating cash flow -6,187.49B 21,767.75B -6,969.97B 4,287.01B 9,826.80B
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 1,625.69M 1,637.06M 1,771.67M 2,083.54M 2,493.39M
Gross Profit -- -- -- -- --
Operating income 273.29M 259.46M 303.85M 381.44M 496.61M
Income before tax 273.83M 275.67M 311.39M 383.54M 499.24M
Net income 206.92M 178.30M 197.60M 244.03M 333.12M
EBITDA -- -- -- -- --
Diluted EPS 0.05 0.05 0.05 0.06 0.09
Dividends Per Share 0.03 0.03 0.03 0.03 --
Total Assets 22,159.70M 26,978.17M 29,993.09M 34,602.56M 45,589.55M
Total liabilities 20,110.52M 24,945.54M 27,984.09M 32,488.23M 43,275.14M
Total equity 2,042.08M 2,025.71M 2,001.64M 2,108.03M 2,310.47M
Operating cash flow -294.20M 1,026.81M -317.89M 191.68M 432.57M

Valuation Measures

Dec 2017
PER25.82
ROA0.83%
ROE15.06%
Operating margin19.91%
Profit margin13.36%

Key executives

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

Shareholders

  • Government of Vietnam (77.1%)
  • Mizuho Financial Group, Inc. (15.0%)
  • Norges Bank Investment Management (0.4%)
  • Van Eck Associates Corp. (0.2%)
  • Daiwa Asset Management (Singapore) Ltd. (0.2%)
  • Morgan Stanley Investment Management, Inc. (0.2%)
  • T. Rowe Price International Ltd. (0.1%)
  • Grantham, Mayo, Van Otterloo & Co. LLC (0.1%)
  • Capital Asset Management Co., Ltd. (0.1%)
  • Lion Global Investors 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
  • VietinBank Securities JSC
Last Updated on 24 Apr, 2018

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