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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 2021 VNDUSD
Revenue89,713.83B3,911.68M
Gross Profit----
Operating income26,845.37B1,170.50M
Income before tax27,388.58B1,194.19M
Net income19,854.78B865.70M
EBITDA----
Diluted EPS4,195.390.18
Dividends Per Share940.430.04
Total Assets1,414.67T62,074.27M
Total liabilities1,305.55T57,286.32M
Total equity109,030.28B4,784.12M
Operating cash flow18,171.10B792.29M
Currency in VNDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 56,641.86B 70,595.01B 83,791.27B 86,496.41B 89,713.83B
Gross Profit -- -- -- -- --
Operating income 11,281.52B 18,417.97B 23,333.90B 23,166.88B 26,845.37B
Income before tax 11,341.36B 18,269.22B 23,211.57B 23,049.56B 27,388.58B
Net income 7,567.51B 12,894.86B 16,306.07B 16,579.90B 19,854.78B
EBITDA -- -- -- -- --
Diluted EPS 1,648.11 2,808.87 3,453.18 3,503.39 4,195.39
Dividends Per Share 626.95 626.95 626.95 940.43 940.43
Total Assets 1,035.29T 1,074.02T 1,222.81T 1,326.23T 1,414.67T
Total liabilities 982,735.32B 1,011.84T 1,141.85T 1,232.13T 1,305.55T
Total equity 52,468.63B 62,110.39B 80,870.87B 94,009.95B 109,030.28B
Operating cash flow 9,826.80B 14,938.16B 18,269.19B 34,094.78B 18,171.10B
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 2,493.39M 3,065.88M 3,607.37M 3,722.54M 3,911.68M
Gross Profit -- -- -- -- --
Operating income 496.61M 799.87M 1,004.56M 997.03M 1,170.50M
Income before tax 499.24M 793.41M 999.30M 991.98M 1,194.19M
Net income 333.12M 560.01M 702.00M 713.54M 865.70M
EBITDA -- -- -- -- --
Diluted EPS 0.07 0.12 0.14 0.15 0.18
Dividends Per Share 0.02 0.02 0.02 0.04 0.04
Total Assets 45,589.55M 46,304.22M 52,770.03M 57,456.08M 62,074.27M
Total liabilities 43,275.14M 43,623.50M 49,276.48M 53,379.62M 57,286.32M
Total equity 2,310.47M 2,677.74M 3,489.95M 4,072.78M 4,784.12M
Operating cash flow 432.57M 648.75M 786.52M 1,467.33M 792.29M

Valuation Measures

Dec 2021
PER18.78
ROA1.44%
ROE19.55%
Operating margin29.92%
Profit margin22.13%

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

  • Dragon Capital Management Co. Ltd. (0.4%)
  • Norges Bank Investment Management (0.3%)
  • T. Rowe Price Hong Kong Ltd. (0.2%)
  • JPMorgan Asset Management (Singapore) Ltd. (0.2%)
  • Pictet Asset Management Ltd. (0.1%)
  • Fubon Asset Management Co., Ltd. (0.1%)
  • CTBC Investments Co., Ltd. (0.1%)
  • Van Eck Associates Corp. (0.1%)
  • Tian Hong Asset Management Co., Ltd. (0.1%)
  • AllianceBernstein LP (0.0%)

Contact Details

Related Companies

  • KIM Growth VNFINSELECT ETF
  • Vietcombank Laos Ltd.
  • Vietcombank Remittance Co. Ltd.
  • Vietcombank Leasing Co. Ltd.
  • VCB Money, Inc.
  • Vietnam Finance Co. Ltd.
  • Vietcombank Finance Leasing Co.
  • Vietcombank Securities Co. Ltd.
  • Vietcombank Tower 198 Co. Ltd.

Competitors

    Last Updated on 6 Dec, 2022

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