Asia300

Joint Stock Commercial Bank for Foreign Trade of Vietnam

Vietnam

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Aug 18, 2017
Prev close: 37,500
Aug 18, 2017
Market cap:
Market cap(USD):
134,916B
5,936.13M
Shares: 3,597.77M

Currency in VND

Company profile

Market(Ticker): STC(VCB)
Sector:
Industry:
Finance
Regional Banks
Full time employees: 15,615

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 46,503.28B
Gross profit --
Operating income 8,476.07B
Income before tax 8,523.08B
Net income 5,632.38B
EBITDA --
Diluted EPS 1,566
Dividends per share --
Total assets 787,906.89B
Total liabilities 739,805.38B
Total equity 47,957.98B
Operating cash flow 4,287.01B

Currency in VND

Revenue 2,079.27M
Gross profit --
Operating income 378.98M
Income before tax 381.08M
Net income 251.83M
EBITDA --
Diluted EPS 0.07
Dividends per share --
Total assets 34,601.33M
Total liabilities 32,488.92M
Total equity 2,106.09M
Operating cash flow 191.68M

Currency in USD

Valuation measures

Dec 2016

PER 22.63
ROA 0.77%
ROE 12.11%
Operating margin 18.22%
Profit margin 12.11%

Key executive

  • 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

Share holders

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