MarketLineIC - Joint Stock Commercial Bank For Foreign Trade of Vietnam - Profile - 050523

Joint Stock Commercial Bank for
Foreign Trade of Vietnam
Table of Contents
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Financial and Strategic
Analysis Review.............................................................................................................4
Company Overview....................................................................................................4
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Key Facts.................4
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Business Description
....................................................................................................................................4
Banking Financial Services........................................................................................5
Overview................................................................................................................5
Banking Financial Services........................................................................................5
Performance............................................................................................................5
Non-Banking Financial Services................................................................................5
Overview................................................................................................................5
Non-Banking Financial Services................................................................................5
Performance............................................................................................................5
Others.........................................................................................................................5
Overview................................................................................................................5
Others.........................................................................................................................6
Performance............................................................................................................6
Overseas.....................................................................................................................6
Performance............................................................................................................6
Securities....................................................................................................................6
Overview................................................................................................................6
Securities....................................................................................................................6
Performance............................................................................................................6
The Middle and Central Highland..............................................................................6
Performance............................................................................................................6
The North...................................................................................................................7
Performance............................................................................................................7
The South...................................................................................................................7
Performance............................................................................................................7
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Major Products and
Services......................................................................................................................7
Joint Stock Commercial Bank for Foreign Trade of Vietnam- History.....................7
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Corporate Strategy...9
Joint Stock Commercial Bank for Foreign Trade of Vietnam- SWOT Analysis.......9
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Strengths................10
Strengths-Cost Efficiency.....................................................................................10
Strengths-Adequate Capital..................................................................................10
Strengths-Business performance - Banking Financial Services...........................10
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Weaknesses...........10
Weaknesses-Asset Quality...................................................................................10
Weaknesses-Limited International Presence........................................................11
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Opportunities.........11
Published: 03 Apr 2023 Page 1

Extracted: 07 Dec 2023
Opportunities-Growing Markets for Payment Channels: Vietnam......................11

Opportunities-Short-Term Economic Outlook: Vietnam.....................................11
Opportunities-Emergence of FinTech..................................................................11
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Threats...................12
Threats-Competition.............................................................................................12
Threats-Emergence of Neobanks.........................................................................12
Threats-Risks Related to Online Identity Theft and Hacking..............................12
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Key Competitors....13
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Key Employees......13
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Company Statement
..................................................................................................................................15
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Locations &
Subsidiaries..............................................................................................................16
Head office...........................................................................................................16
Other Locations & Subsidiaries...............................................................................16
Joint Stock Commercial Bank for Foreign Trade of Vietnam, Other locations...16
Joint Stock Commercial Bank for Foreign Trade of Vietnam, Subsidiaries............17
Vietnam Finance Company Limited in Hong Kong............................................17
Vietcombank Laos Ltd.........................................................................................17
Vietcombank Money Inc......................................................................................17
VCB Money Inc...................................................................................................17
Vietcombank – Bonday - Ben Thanh Co Ltd.......................................................17
VIETCOMBANK BONDAY CO., LTD.............................................................17
Vietcombank Finance Leasing Co Ltd.................................................................17
Vietcombank Financial Leasing Co Ltd...............................................................17
VIETCOMBANK FUND MANAGEMENT COMPANY..................................17
Vietcombank Leasing Co., Ltd.............................................................................17
Vietcombank Remittance Co., Ltd.......................................................................18
Vietcombank Securities Co Ltd...........................................................................18
Vietcombank Tower 198 Co Ltd..........................................................................18
Vietcombank Tower 198 Ltd...............................................................................18
VIETNAM FINANCE COMPANY....................................................................18
Summarized Statement.............................................................................................18
Joint Stock Commercial Bank for Foreign Trade of Vietnam, Annual Statements. 18
Income Statements...............................................................................................18
Balance Sheet.......................................................................................................18
Cash Flow.............................................................................................................19
Detailed Statement...................................................................................................19
Joint Stock Commercial Bank for Foreign Trade of Vietnam, Full Annual
Statements................................................................................................................19
Income Statements...............................................................................................19
Balance Sheet.......................................................................................................20
Cash Flow.............................................................................................................22
Summarized Interim Statement................................................................................22
Joint Stock Commercial Bank for Foreign Trade of Vietnam, Summarized Interim
Statements................................................................................................................22
Balance Sheet.......................................................................................................22
Cash Flow.............................................................................................................23
Detailed Interim Statement.......................................................................................23

Joint Stock Commercial Bank for Foreign Trade of Vietnam, Detailed Interim
Statement..................................................................................................................23
Balance Sheet.......................................................................................................24
Cash Flow.............................................................................................................26
Capital Market Ratios...............................................................................................26
Joint Stock Commercial Bank for Foreign Trade of Vietnam, Capital Market Ratios
..................................................................................................................................26
Interim Ratios...........................................................................................................27
Joint Stock Commercial Bank for Foreign Trade of Vietnam, Interim Ratios........27
Annual Ratios...........................................................................................................27
Joint Stock Commercial Bank for Foreign Trade of Vietnam, Annual Ratios........27

Joint Stock Commercial Bank for Foreign Trade of

Vietnam- Financial and Strategic Analysis Review
Company Overview
Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) offers
retail and corporate banking, investment banking, life insurance, and real estate
leasing activities. Its retail and corporate banking solutions include accounts, deposits,
loans guarantee, negotiations and discounting of international payments, money
transfer, documents, and card services, among others. Investment banking carries out
securities trading and funds management. The bank offers life insurance products for
personal credit, group credit, and credit for co-borrowers, death, and mixed purpose
through its partner banks. It also provides services such as financial leasing, money
transferring, and office leasing. The bank operates through a network of branches in
Vietnam and a representative office each in Singapore and the US. Vietcombank is
headquartered in Hanoi, Vietnam.
Joint Stock Commercial Bank for Foreign Trade of Vietnam-

Key Facts
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Key Facts
Corporate Phuong Ly Thai To, Quan Ticker Symbol,
VCB[HCM]
Address Hoan Kiem Exchange
No. of
Telephone 84 4 39343137 22599
Employees
Fax 84 4 38269067 Fiscal Year End December
portal.vietcombank.com.v Revenue (in
URL 4688.3788
n US$ Million)
Source : GlobalData Research analysis / © GlobalData Research

Business Description
Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) offers a
wide range of retail and commercial banking, investment banking, and related
financial services.
As of December 31, 2021, it had total assets of VND1,414.7 trillion, loans to

customers of VND934.7 trillion, and deposits of VND1,135.3 trillion.
Vietcombank classifies its business operations into four segments: Banking Financial
Services, Securities, Non-Banking Financial Services, and Others.
As of December 31, 2021, it operated through 121 branches of which 14 branches in

Eastern-Southern Region, 14 branches in the Southern-Central and Highland Regions,
15 branches in Hanoi, 16 branches in Northern-Central, 16 branches in the Western-

Southern Region, 18 branches in Ho Chi Minh City, 28 branches in North; and 476
transaction offices, 1,173 correspondent banks in 95 countries, one overseas
representative office each in Singapore, South of Vietnam, and the US.
Banking Financial Services
Overview
Offers retail and commercial banking solutions, which includes accounts, deposits,
loans guarantees, negotiations and discounting of documents, international payments,
money transfer, card services, documentary and clean collections, foreign exchange,
correspondent banking, and factoring.
Banking Financial Services
Performance
Reported net revenue of VND55,429,446 million for FY2021, which grew 14.8%
YoY, and reported a CAGR of 17.7% during 2017-21. Accounted for 97.5% of the
company's net revenue, excluding elimination in FY2021.Reported PAT of
VND21,201,940 million in FY2021, which grew 17.3% YoY. Increase in net revenue
was due to growth in net interest income and net fee and commission income and net
gain/(loss) from trading of foreign currencies by 16.79%, 7.85% and 11.945,
respectively.
Non-Banking Financial Services
Overview
Provides life insurance through partner banks and real estate operations such as office
leasing. Offers life insurance for personal credit, group credit, and credit for co-
borrowers, death, and mixed purpose, among others.
Non-Banking Financial Services
Performance
Reported net revenue of VND282,701 million for FY2021, which decreased 4% YoY,
and reported a CAGR of 7.7% during 2017-21. Accounted for 0.5% of the company's
net revenue in FY2021.Reported PAT of VND118,284 million in FY2021, which
grew 25.4% YoY. Decrease in net revenue was due to decline in net interest income
and net fee and commission income by 0.45% and 83.74%, respectively.

Others
Overview
Includes financial leasing, money transferring, and other activities, which are not part
of the other business segments.
Others
Performance
Reported revenue of VND207,241 million for FY2021, which grew 38.6% YoY, and
reported a CAGR of 17.9% during 2017-21. Accounted for 0.4% of the company's
revenue in FY2021.Reported PAT of VND85,350 million in FY2021, which grew
2.3% YoY. Increase in net revenue was due to growth in net interest income and net
fee and commission income by 38.05% and 34.76% respectively.
Overseas
Performance
Reported Net revenue of VND200,489 million for FY2021, which grew 58.6% YoY,
and reported a CAGR of 45.9% during 2017-21. Accounted for 0.4% of the bank's
Net revenue in FY2021.
Securities
Overview
Conducts its business through Vietcombank Securities Co., Ltd, which carries out
trading activities. Also provides fund management services through Vietcombank
Fund Management.
Securities
Performance
Reported net revenue of VND929,575 million for FY2021, which grew 91.5% YoY,
and reported a CAGR of 31.1% during 2017-21. Accounted for 1.6% of the
company's net revenue in FY2021.Reported PAT of VND520,631 million in FY2021,
which grew 138.8% YoY. Increase in net revenue was due to increase in net interest
income and net fee and commission income and net gain from trading securities by
43.83% , 117.3% and 186.1%, respectively.

The Middle and Central Highland
Performance
Reported Net revenue of VND8,088,823 million for FY2021, which grew 25.6%
bank's Net revenue in FY2021.
The North
Performance
The South
Performance

Major Products and Services
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Major Products and
Services
Products: Services:
Credit Cards Internet Banking

Deposits SMS Banking
VCB Money Phone Banking
Corporate Bonds Account Services
Loans and Lending Payments
Guarantee
Financial Leasing
Office Leasing
Trading Services
Funds Management
Factoring
Capital Mobilization

Project Financing
Money Transfer

History
Joint Stock Commercial Bank for Foreign Trade of Vietnam- History

Yea
Event Description
r
202 Contracts/Agreements In March, the company partnered with JCB for
3 Foreign Trade of Vietnam to launch the
Vietcombank JCB platinum credit card.
202 Financing Agreements In April, the company signed a loan agreement
3 with Japan Bank for International Cooperation to
set up a credit line of up to US$ 300 million for
renewable energy projects in Vietnam.
202 Contracts/Agreements In August, the company and Vietnam Oil and Gas
2 Group (Petrovietnam) signed a comprehensive
cooperation agreement for the use of
Vietcombank's products and services by
Petrovietnam on the basis of a competitive fee
policy, focusing on promoting cooperation in areas.
202 Contracts/Agreements In August, the company cooperated with BIDV to
2 deploy a 24-hour electronic payment system.
202 New Products/Services In December, the company launched Payment Pre-
2 validation service.
202 New Products/Services In December, the company launched SWIFT low
2 value cross-border payment (SWIFT Go).
202 Contracts/Agreements In November, the company and MoneyGram
0 International announced to renewal their contract
to offer MoneyGram services at more than 600
transaction offices of Vietcombank nationally.
202 New Products/Services In December, the company and HSBC Bank
0 (Vietnam) Ltd executed the live blockchain
domestic Letter-of-Credit.
201 Corporate Awards In August, the bank was recognized as “The Best
9 Bank in Vietnam” by Finance Asia publication.
201 Regulatory Approval In July, the bank received the approval from the
9 New York State Department of Financial Services

for establishing a representative office in New

York, the US.
201 Contracts/Agreements In November, Vietcombank and FWD Group
9 entered into a 15 year bancassurance partnership in
Vietnam.
201 Incorporation/Establishment The bank introduced10 transaction offices and five
9 new branches at Kinh Bac, Chi Linh, Tan Sai Gon,
Bao Loc, and Ba Ria.
201 Corporate Awards The bank was recognized as the top 100 most
9 powerful enterprises by Nikkei Magazine.
201 Plans/Strategy In October, the company announced its plan to
8 open its first Vietnamese bank in the United States.
201 Corporate In March, the bank announced to set up five new
6 Changes/Expansions branches at South Hai Phong City, South Da Nang
City, Phu Quoc Island, Hung Yen City, Binh
Phuoc Province and a Southern representative
office at Ho Chi Minh City.
201 Corporate In March, the bank a new branch in North Binh
4 Changes/Expansions Duong Province.
201 Corporate In April, the bank set up a new branch in Soc Son
4 Changes/Expansions District; new branch in Lang Son Province and
Special Customer Service Branch; and three new
branches in Dong Anh District, Thanh Tri District
and Hoang Mai District,
201 Corporate In March, the bank set up two new branches in
3 Changes/Expansions Nam Dinh Province and Ha Nam Province,
Vietnam.
201 Divestiture In November, the bank announced to divest all its
1 stake in SHINHANVINA Bank, its joint venture
with Shinhan Bank Co., Ltd., to Shinhan Bank Co.,
Ltd.
200 Stock Listings/IPO In August, the bank got listed on Hochiminh Stock
9 Exchange.
196 Incorporation/Establishment The company was established.
3

Corporate Strategy
Vietcombank’s strategic objective is to become the number one bank in profitability

and non-interest income, second in customer experience, three in retail and
investment, number four in quality of human resources, fifth in digital banking in
Vietnam by 2025; one of the 100 largest banks in the Asian region; one of 1,000
world’s largest public companies and one of the world’s 300 largest financial banking
groups by 2030.

It focuses on renovating the growth model and restructuring business operations,

promoting customer and product development, fulfilling mechanisms and policies,
improving the quality of human resources and the ability to adapt to the digital
banking, deploying digital banking services, upgrading IT system.
It plans to improve its credit quality along with credit portfolio restructuring in order
to gain efficiency and sustainability: Growing the proportion of retail loans and loans
provided at transaction offices; improving the proportion of collateral against the total
outstanding loans; focusing on treasury in order to increase its non-interest income.

SWOT Analysis
Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) offers
retail banking, commercial banking and related financial services. Adequate capital,
business performance of banking financial services and cost efficiency, are some of
its major strengths, even as deteriorated asset quality, could be a cause for concern.
Growing markets for payment channels, short term economic outlook and the
emergence of FinTech could offer ample growth opportunities to the bank. However,
emergence of Neobanks, competition and risks related to online identity theft and
hacking could pose various challenges to the bank.

Strengths
Strengths-Cost Efficiency
The bank reported improvement in its cost-efficiency in FY2021, which enhanced its
profitability. In FY2021, its cost efficiency ratio improved to 30.98% from 32.69% in
FY2020. The ratio indicates operating expenses as a percentage of operating income
(net revenue). Its operating expenses increased by 9.57% to VND17,574.1 billion
from VND16,038.2 billion in the previous year. The increase was predominantly due
to higher expenses on assets, administrative expenses, insurance expenses on deposits
of customers and other expenses. The bank’s net revenue increased by 15.61% to
VND56,723.5 billion from VND49,062.5 billion in the previous year due to growth in
net interest income and net fee and commission income.
Strengths-Adequate Capital
Vietcombank has a robust capital base, which ensures capital adequacy to facilitate
organic and inorganic growth with the secured and unsecured nature of its lending.
Robust capital management and moderate risk-weighted asset growth enabled the
bank to strengthen its capital base. In FY2021, the bank’s total capital adequacy ratio
stood at 9.31% as compared to 9.56% in FY2020. The ratio was well above the
statutory minimum requirement of State Bank of Vietnam.

Strengths-Business performance - Banking Financial Services
The bank’s Banking Financial Services segment is a major contributor to its revenue
stream. In FY2021, the segment contributed 97.5% towards the bank’s total revenue
of VND55,429,446 million for FY2021. Growth in revenue increase in net revenue
was due to growth in net interest income and net fee and commission income and net
gain/(loss) from trading of foreign currencies .The segment also reported profit after
tax of VND21,201,940 million in FY2021 as compared to VND18,072,262 million in
previous year.

Weaknesses
Weaknesses-Asset Quality
Vietcombank reported deterioration in its asset quality in FY2021, which restricts

interest income from outstanding loans and leases. During the year, the bank’s non-
performing loans (NPL) increased by 17.3 % to VND6.1 billion from VND5.2 billion
in FY2020. NPLs as a percentage of total outstanding loans deteriorated to 0.63%
from 0.62% in FY2020. The allowance for loan losses stood at VND25,975.6 billion,
as compared to VND19,242.7 billion, in the previous year. Its loan loss provisions as
a percentage of NPLs stood at 424.37%, as compared to 367.93% in FY2020.
Weaknesses-Limited International Presence
The bank’s limited international presence could be an area for improvement as it

could hamper its financial position. Vietcombank generates all of its revenues from
the Vietnamese market, which makes it vulnerable to diverse risks including
macroeconomic factors prevailing in a particular region. Thus, the bank’s financial
results are subject to general regulatory, legal, economic, demographic, competitive
and other conditions in these regions. Changes in any of these conditions could
negatively impact the results of operations.

Opportunities
Opportunities-Growing Markets for Payment Channels: Vietnam
The growing market for payment channels in Vietnam could provide growth
opportunities to the bank. According to an in-house report, the number of payment
cards in circulation in the country is projected to reach 152.3 million in 2024, which
would include 137.4 million debit cards and14.9 million credit cards. The transaction
value of the channels is expected to grow to VND5,534.4 trillion in 2024, including
VND5,040.3 trillion for debit cards and VND494.1 trillion for credit cards. Growth is
expected to be due to the introduction of mobile van branches in remote locations, the
increasing number of digital-only banks, and the emergence of new payment card
technologies such as EMV and contactless; besides the occurrence of the Covid-19
pandemic, which continues to enhance the e-commerce market.

Opportunities-Short-Term Economic Outlook: Vietnam
The company is likely to benefit from the positive outlook for the economy in
Vietnam, which could create favorable market conditions and enhance the
performance of the banking, financial services, and insurance sectors in the country.
According to the International Monetary Fund, Vietnam’s GDP is expected to register
growth of 7% in 2022. The growth is expected to be facilitated by improvement in the
labor market, increase in exports, and growth in private consumption.
Opportunities-Emergence of FinTech
The bank could benefit by venturing into the FinTech arena, which is essentially
changing the way banking is carried out and challenging the regulatory structure.
FinTech innovations such as crowd-funding, mobile payments, distributed ledgers,
peer-to-peer lending, and online marketplace lending are cost-effective and they have
been giving tough competition to banking institutions. In response, banks are
increasingly pursuing opportunities to establish FinTech capabilities through
partnerships or strategic collaborations, venture funding, development of in-house
capabilities, establishment of business accelerators, and/or acquisitions. FinTech
could result in cost savings for banks facing margin pressure from low interest rates.
They also have the potential to help expand intermediation services to the
underserved.

Threats
Threats-Competition
The banking industry is highly competitive. The bank competes with numerous
domestic and international institutions in its area of operations. The bank competes
with other on the basis of reliability, financial strength and stability, rating,
underwriting consistency, service, business ethics, price, performance, capacity,
policy terms and coverage conditions. Some of the company’s major competitors
include Saigon Thuong Tin Commercial Joint Stock Bank, Vietnam Joint Stock
Commercial Bank for Industry and Trade, Vietnam Prosperity Joint-Stock
Commercial Bank and Vietnam Technological and Commercial Joint Stock Bank.
Intense competition could affect the bank’s results of operation and financial position.
Threats-Emergence of Neobanks
The emergence of Neobanks could hamper the operational and financial position of
conventional banks as Neobanks have the potential to capture the market. Unlike a
conventional bank, a Neobank does not maintain branches, which allows it to keep its
operational costs low and bolster product innovation. Its digital-only business model
also enables it to offer competitive rates and charge lower fee from customers. A
Neobank is capable of using advanced technologies such as artificial intelligence to
track customers’ spending pattern and providing personalized solutions. It could
provide real-time spending advisory and enable them to get instant approval for loan
applications and deactivation of accounts. Despite limited operational experience,

limited offerings, and low reliability; attributes such as lower costs and better
customer experience enable a Neobank to be a better alternative to a traditional bank,
which could allow it to attract the customer base of the conventional banks.
Threats-Risks Related to Online Identity Theft and Hacking
The bank's IT-enabled business operations are prone to various security threats, which
could affect its financials. In its business transactions, the bank depends on
information technology enabled services (ITES) such as online banking, card
payments and phone transactions. This exposes the bank to online identity theft and
hacking. Although the bank's online portal operations contain diverse security
mechanisms, they are still vulnerable to unauthorized attacks (break-ins or denial-of-
service attacks), zero-day security holes and similar disruptions caused by hackers.
The extent of internet security is dependent on the quality of hardware and software,
which may not protect the bank's portal from unauthorized attacks, resulting in break-
ins and other disruptive system failures.
NOTE:The above strategic analysis is based on in-house research and reflects the
publishers opinion only

Key Competitors
Joint Stock Commercial Bank for Investment and Development of Vietnam

Saigon Thuong Tin Commercial Joint Stock Bank
Vietnam Joint Stock Commercial Bank for Industry and Trade
Vietnam Prosperity Joint-Stock Commercial Bank
Vietnam Technological and Commercial Joint Stock Bank

Key Employees
Joint Stock Commercial Bank for Foreign Trade of Vietnam- Key Employees
Sinc Ag
Name Job Title Board Level Biography
e e
Pham Chairman Executive 2021 49 Mr. Pham Quang Dung has been
Quang Board the Chairman and Director of the
Dzung bank since 2021. Prior to this ,he
was Chief Executive Office of the
bank in 2014.Previously he has
held various positions in
Vietcombank. Mr. Dung was
Deputy Chief Executive Officer
Member of Board of Directors in
2007 and 2013, respectively.

Shojiro Chief Executive

Mizoguchu Executive Board
Officer -
Deputy
Nguyen Director Non 2014
Manh Hung Executive
Board
Nguyen My Director Non
Hao Executive
Board
Pham Anh Director Non
Tuan Executive
Board
Truong Gia Director Non
Binh Executive
Board
Do Viet Director Non
Hung Executive
Board
Hong Director Senior 2018
Quang Management
Phung Chief Senior 2017
Nguyen Executive Management
Hai Yen Officer -
Deputy
Dinh Thi Chief Senior 2020
Thai Executive Management
Officer -
Deputy
Pham Chief Senior 2019
Manh Executive Management
Thang Officer -
Deputy
Nguyen Thi Chief Senior 2019
Kim Oanh Executive Management
Officer -
Deputy
Le Quang Chief Senior 2017
Vinh Executive Management
Officer -
Deputy
Le Hoang Chief Senior 2017
Tung Accountant Management
Nguyen Chief Senior 2019
Thanh Executive Management
Tung Officer -

Deputy
Dang Hoai Chief Senior 2019
Duc Executive Management
Officer -
Deputy
Nguyen Chief Senior
Viet Cuong Executive Management
Officer -
Deputy
Colin Group Senior
Richard Director Management
Dinn
Tran Thanh Group Senior
Nam Director Management

Company Statement
A statement by Mr. Pham Quang Dung, the Chairman of the bank is given below. The
statement has been taken from the bank’s 2021 annual report.
In 2021, the world continues to witness the raging of the COVID-19 pandemic with
many dangerous mutations, resulting in significant human and socio-economic losses.
Numerous localities in Vietnam have been forced to undertake prolonged social
distancing measures and lockdowns, disrupting production and disrupting supply
chains. However, with the drastic, flexible and responsive management of the
Government, as well as the efforts of businesses and individuals, Vietnam has
gradually adapted to the pandemic and had a strong economic recovery in the fourth
quarter. GDP for the whole year increased by 2.58%; import export turnover reached
USD 668.5 billion, up 22.6% compared to 2021; trade surplus reached USD 4 billion;
inflation stood at 1.84% - the lowest level since 2016.
In the context of unprecedented difficulties and challenges, Vietcombank has

successfully completed the business targets assigned by the General Meeting of
Shareholders, maintaining its position as the No. 1 bank in terms of quality and
operational efficiency. Vietcombank’s consolidated profit before tax in 2021 reached
VND 27,389 billion, up 19% compared to 2020. Capital mobilization and credit
growth exceeded the plan, making a positive contribution to the recovery and socio-
economic development of the country. Credit quality is strictly controlled, with a very
low non-performing loan ratio (0.63%). Vietcombank has set aside 100% of the loan
loss provision for the restructured loans, 2 years ahead of the State Bank’s schedule.
Loan loss coverage ratio increased to the highest level ever recorded in the banking
industry (424%). Those outstanding business results were positively received by the
market with the bank’s market capitalization reaching about USD 16.7 billion by the
end of 2021.
Besides business activities, Vietcombank also actively participates in social welfare

initiatives, displaying the social responsibility of a large brand. In 2021, Vietcombank

has implemented social security programs with a total commitment of nearly VND
662 billion, including a donation of VND 381 billion to the prevention and control of
the COVID-19 pandemic. Vietcombank has implemented a series of programs and
activities aimed at supporting, awarding, and expressing gratitude to the frontline
forces fighting the pandemic, especially the medical team.
Entering 2022 with opportunities and challenges intertwined, in order to realize the
vision and strategic goals, Vietcombank will focus on:
Comprehensive transformation of retail banking operations with a customer-centric
orientation throughout. Vietcombank continues to transform the retail operation
model in a strong and sustainable way to bring outstanding products and services on
the basis of new technology in order to meet the demands of customers according to
their segment characteristics.
Focusing on drastically implementing the digital transformation roadmap with the

goal of leading. With breakthrough digitization innovations in recent years,
Vietcombank has been honored as “Vietnam’s typical digital transformation bank”. In
2022, Vietcombank continues to promote the implementation of the digital
transformation program; constantly innovate, create and apply outstanding
technological achievements to increase utility, maximize customer experience and
satisfaction.
Sustainable development founded on the best risk management practices. With the
strategic goal of having the best risk management in accordance with international
standards and practices, Vietcombank has consistently prioritized and focused on
investment and development of risk management framework. Not content with a
timely compliance with Basel II using the standard method, Vietcombank aims to be
the first bank in Vietnam to apply the advanced method for Basel II compliance, as
well as to constantly conduct research and adopt better risk management standards.
In order to successfully complete the set goals and strategic orientations,

Vietcombank’s BOD and BOM expect to rely on the support and unity of nearly
22,000 employees throughout the system: the increasingly solid companionship and
cooperation of millions of valued customers and tens of thousands of shareholders.
This is an important “asset” that helps Vietcombank to continue growing quickly,
strongly, sustainably, safely and effectively, step by-step building a regional and
global footprint.

Locations & Subsidiaries
Head office
198 Tran Quang Khai

Phuong Ly Thai To, Quan Hoan Kiem
Hanoi
Vietnam
84 4 39343137

Other Locations & Subsidiaries
Joint Stock Commercial Bank for Foreign Trade of Vietnam, Other

locations
198 Tran Quang Khai

Phuong Ly Thai To, Quan Hoan Kiem
Hanoi
Vietnam
84 4 39343137
Joint Stock Commercial Bank for Foreign Trade of Vietnam,

Subsidiaries
Vietnam Finance Company Limited in Hong Kong
Hong Kong
Vietcombank Laos Ltd
Vientiane
Laos
Vietcombank Money Inc
United States of America
VCB Money Inc
Vietnam
Vietcombank – Bonday - Ben Thanh Co Ltd
Ho Chi Minh City

Vietnam
VIETCOMBANK BONDAY CO., LTD
Vietnam
Vietcombank Finance Leasing Co Ltd
Ha Noi
Vietnam
Vietcombank Financial Leasing Co Ltd
Ha Noi City

Vietnam
VIETCOMBANK FUND MANAGEMENT COMPANY
Vietnam
Vietcombank Leasing Co., Ltd.
Vietnam
Vietcombank Remittance Co., Ltd
Hanoi
Vietnam
Vietcombank Securities Co Ltd
Ha Noi
Vietnam
Vietcombank Tower 198 Co Ltd
Hanoi
Vietnam
Vietcombank Tower 198 Ltd
Vietnam
VIETNAM FINANCE COMPANY
Vietnam
Summarized Statement

Annual Statements
Paramet Curren
2018 2019 2020 2021 2022
er Name cy
Income Statements
Non-
Interest 18030973.0 16270831.0 17664662.0 19117611.0 21591441.0
VND
Income, 0 0 0 0 0
Bank
Net 14605578.0 18582254.0 18451311.0 21996601.0 29899014.0
VND
Income 0 0 0 0 0

Diluted
Normaliz VND 2604.12 3453.19 3503.40 4162.15 5821.41
ed EPS
Balance Sheet
Total 1074026560 1222813692 1326230092 1414986259 1813815170
VND
Assets .00 .00 .00 .00 .00
Total
1011916170 1141942814 1232220137 1305886943 1678257468
Liabilitie VND
.00 .00 .00 .00 .00
s
Total 62110390.0 80870878.0 94009955.0 109099316. 135557702.
VND
Equity 0 0 0 00 00
Total
Common
Shares VND 4590.75 4732.53 4732.53 4732.52 4732.52
Outstandi
ng
Cash Flow
Cash
- -
from 25075832.0 25603435.0 183421489.
VND 60234337.0 56552473.0
Operating 0 0 00
0 0
Activities
Cash
from
VND 1629227.00 -706447.00 -2305153.00 -1589936.00 -392168.00
Investing
Activities
Cash
from
VND -2914981.00 3886994.00 -2986115.00 -1886298.00 -3348022.00
Financing
Activities
Net - -
28256379.0 20312167.0 179681299.
Change VND 61520091.0 60028707.0
0 0 00
in Cash 0 0
Detailed Statement

Full Annual Statements
Parameter Curren
2018 2019 2020 2021 2022
Name cy
Income Statements
Interest VND 55863951.0 67665496.0 69205134.0 70621957.0 88112700.0
Income, 0 0 0 0 0

Bank
Total
27455435.0 33127768.0 32919659.0 28349385.0 34866222.0
Interest VND
0 0 0 0 0
Expense
Net
28408516.0 34537728.0 36285475.0 42272572.0 53246478.0
Interest VND
0 0 0 0 0
Income
Loan Loss 11478198.0
VND 7398113.00 6607278.00 9974730.00 9464218.00
Provision 0
Net
Interest
21010403.0 27930450.0 26310745.0 30794374.0 43782260.0
Inc. After VND
0 0 0 0 0
Loan Loss
Prov.
Non-
- - - - -
Interest
VND 20772150.0 20989710.0 20925846.0 22426142.0 28005610.0
Expense,
0 0 0 0 0
Bank
Net
Income 18269226.0 23211571.0 23049561.0 27485843.0 37368091.0
VND
Before 0 0 0 0 0
Taxes
Provision
for Income VND 3647164.00 4614227.00 4577043.00 5469010.00 7449037.00
Taxes
Net
Income 14622062.0 18597344.0 18472518.0 22016833.0 29919054.0
VND
After 0 0 0 0 0
Taxes
Minority
VND -16484.00 -15090.00 -21207.00 -20232.00 -20040.00
Interest
Net
Income
14605578.0 18582254.0 18451311.0 21996601.0 29899014.0
Before VND
0 0 0 0 0
Extra.
Items
Total
Adjustmen - - -
VND -1871407.00 -2349100.00
ts to Net 2650736.00 2276180.00 2299162.00
Income
Income
Available
11954842.0 16306074.0 16579904.0 19697439.0 27549914.0
to Com VND
0 0 0 0 0
Excl
ExtraOrd
Income VND 11954842.0 16306074.0 16579904.0 19697439.0 27549914.0

Available
to Com
0 0 0 0 0
Incl
ExtraOrd
Diluted
11954842.0 16306074.0 16579904.0 19697439.0 27549914.0
Net VND
0 0 0 0 0
Income
Diluted
Weighted
VND 4590.75 4722.03 4732.52 4732.52 4732.52
Average
Shares
Diluted
EPS
Excluding VND 2604.12 3453.19 3503.40 4162.15 5821.41
ExtraOrd
Items
DPS -
Common
Stock VND 595.61 595.61 1140.00 00.00 00.00
Primary
Issue
Balance Sheet
Cash &
86513283.0 107832492. 111490629. 85293261.0 140816068.
Due from VND
0 00 00 0 00
Banks
Other
Earning 344937424. 369774357. 371780359. 371823932. 507293171.
VND
Assets, 00 00 00 00 00
Total
621573249. 724473254. 820545467. 935009671. 1120286832
Net Loans VND
00 00 00 00 .00
Property/
Plant/
10534068.0 11162170.0 12866189.0 13736855.0 13950174.0
Equipment VND
0 0 0 0 0
, Total -
Gross
Accumulat
ed - - -
VND -7455050.00 -8780091.00
Depreciati 6074776.00 6716461.00 8173968.00
on, Total
Property/
Plant/
Equipment VND 4459292.00 4445709.00 5411139.00 5562887.00 5170083.00
, Total -
Net

Intangibles
VND 2068174.00 2260794.00 3128223.00 3073419.00 2815317.00
, Net
Long Term
Investment VND 907647.00 951670.00 726183.00 759715.00 782389.00
s
Other
Long Term
VND 6740.00 405543.00 909263.00 349.00 958065.00
Assets,
Total
Other
13560751.0 12669873.0 12238829.0 13463025.0 35693245.0
Assets, VND
0 0 0 0 0
Total
Accounts 10363285.0 12485332.0
VND 8717540.00 9797834.00 9326371.00
Payable 0 0
Total 877201916. 999518828. 1133044794 1239375552 1476512469
VND
Deposits 00 00 .00 .00 .00
Total Short
Term 91963715.0 94936379.0 43844395.0 15182076.0 77785081.0
VND
Borrowing 0 0 0 0 0
s
Current
Port. of LT
Debt/ VND 77.00 77.00 77.00 77.00 78.00
Capital
Leases
Long Term 21459736.0 21382839.0 21240005.0 17387555.0 14337701.0
VND
Debt 0 0 0 0 0
Total Long 21459736.0 21382839.0 21240005.0 17387555.0 14337701.0
VND
Term Debt 0 0 0 0 0
113423528. 116319295. 65084477.0 32569708.0 92122860.0
Total Debt VND
00 00 0 0 0
Deferred
Income VND 19295.00 22023.00 00.00 00.00 00.00
Tax
Minority
VND 68989.00 83459.00 85024.00 87113.00 88383.00
Interest
Other
12484902.0 15635924.0 24208008.0 24528199.0 97048424.0
Liabilities, VND
0 0 0 0 0
Total
Common
35977686.0 37088774.0 37088774.0 37088774.0 47325166.0
Stock, VND
0 0 0 0 0
Total
Additional
Paid-In VND 00.00 4995389.00 4995389.00 4995389.00 4995389.00
Capital

Retained
Earnings 25584419.0 38312685.0 51576031.0 66675604.0 83290381.0
VND
(Accumula 0 0 0 0 0
ted Deficit)
Other
Equity, VND 548285.00 474030.00 349761.00 339549.00 -53234.00
Total
Total
Liabilities
1074026560 1222813692 1326230092 1414986259 1813815170
& VND
.00 .00 .00 .00 .00
Shareholde
rs' Equity
Cash Flow
Cash 57633693.0 69910256.0 72899028.0 74946354.0 91734447.0
VND
Receipts 0 0 0 0 0
- - - - -
Cash
VND 27395363.0 31567168.0 33194191.0 28835100.0 31709129.0
Payments
0 0 0 0 0
Changes in - -
- 127372522.
Working VND 87886893.0 -9421085.00 96785925.0
8439928.00 00
Capital 0 0
Capital
- - -
Expenditur VND -3004955.00 -716375.00
1135331.00 1011380.00 1622634.00
es
Other
Investing
Cash Flow VND 2764558.00 304933.00 699802.00 32698.00 324207.00
Items,
Total
Total Cash
- - -
Dividends VND -2986115.00 -3348022.00
2914981.00 2219483.00 1886298.00
Paid
Issuance
(Retiremen
VND 00.00 6106477.00 00.00 00.00 00.00
t) of Stock,
Net
Cash - - -
VND -4680317.00 -3976351.00
Taxes Paid 2585774.00 4827328.00 5877802.00
Summarized Interim Statement

Summarized Interim Statements
Income Currenc Mar-2022 (3 Jun-2022 (3 Sep-2022 (3 Dec-2022 (3

Statements y Months) Months) Months) Months)

Non-
Interest
VND 5892150.00 4643931.00 4957018.00 6099160.00
Income,
Bank
Net Income VND 7962184.00 5936954.00 6064870.00 9935006.00
Diluted
Normalized VND 1682.44 1254.50 1281.53 1602.93
EPS
Balance Sheet
Total 1462748158.0 1601680964.0 1649664327.0 1813815170.0
VND
Assets 0 0 0 0
Total 1345762890.0 1478789041.0 1521376984.0 1678257468.0
VND
Liabilities 0 0 0 0
Total
VND 116985268.00 122891923.00 128287343.00 135557702.00
Equity
Total
Common
Shares VND 4732.52 4732.52 4732.52 4732.52
Outstandin
g
Cash Flow
Cash from
Operating VND -17381480.00 50280413.00 60896734.00 183421489.00
Activities
Cash from
Investing VND -17426.00 -48506.00 242267.00 -392168.00
Activities
Cash from
Financing VND -3329224.00 -3329224.00 -3329224.00 -3348022.00
Activities
Net Change
VND -20728130.00 46902683.00 57809777.00 179681299.00
in Cash
Detailed Interim Statement

Detailed Interim Statement
Income Currenc Mar-2022 (3 Jun-2022 (3 Sep-2022 (3 Dec-2022 (3

Statements y Months) Months) Months) Months)
Interest VND 19338145.00 20671039.00 22569428.00 25534088.00
Income,

Bank
Total Interest
VND 7362293.00 7873833.00 8905477.00 10724619.00
Expense
Net Interest
VND 11975852.00 12797206.00 13663951.00 14809469.00
Income
Loan Loss
VND 2273939.00 2733452.00 2778197.00 1678630.00
Provision
Net Interest
Inc. After
VND 9701913.00 10063754.00 10885754.00 13130839.00
Loan Loss
Prov.
Non-Interest
Expense, VND -5643807.00 -7284598.00 -8276550.00 -6801473.00
Bank
Net Income
VND 9950256.00 7423087.00 7566222.00 12428526.00
Before Taxes
Provision for
Income VND 1982830.00 1481156.00 1496778.00 2488273.00
Taxes
Net Income
VND 7967426.00 5941931.00 6069444.00 9940253.00
After Taxes
Minority
VND -5242.00 -4977.00 -4574.00 -5247.00
Interest
Net Income
Before Extra. VND 7962184.00 5936954.00 6064870.00 9935006.00
Items
Total
Adjustments
VND 00.00 00.00 00.00 -2349100.00
to Net
Income
Income
Available to
VND 7962184.00 5936954.00 6064870.00 7585906.00
Com Excl
ExtraOrd
Income
Available to
VND 7962184.00 5936954.00 6064870.00 7585906.00
Com Incl
ExtraOrd
Diluted Net
VND 7962184.00 5936954.00 6064870.00 7585906.00
Income
Diluted
Weighted
VND 4732.52 4732.52 4732.52 4732.52
Average
Shares
Diluted EPS VND 1682.44 1254.50 1281.53 1602.93

Excluding
ExtraOrd
Items
DPS -
Common
Stock VND 00.00 00.00 00.00 00.00
Primary
Issue
Balance Sheet
Cash & Due
VND 92207675.00 92993287.00 75640307.00 140816068.00
from Banks
Other
Earning VND 352324421.00 420603195.00 459525927.00 507293171.00
Assets, Total
1066990245.0 1093971420.0 1120286832.0
Net Loans VND 997707933.00
0 0 0
Property/
Plant/
VND 13748800.00 13797299.00 13806057.00 13950174.00
Equipment,
Total - Gross
Accumulated
Depreciation, VND -8362723.00 -8547352.00 -8745957.00 -8780091.00
Total
Property/
Plant/
VND 5386077.00 5249947.00 5060100.00 5170083.00
Equipment,
Total - Net
Intangibles,
VND 2958770.00 2853572.00 2760412.00 2815317.00
Net
Long Term
VND 781416.00 796207.00 762920.00 782389.00
Investments
Other Long
Term Assets, VND 10798.00 7927.00 5782.00 958065.00
Total
Other Assets,
VND 11371068.00 12186584.00 11937459.00 35693245.00
Total
Accounts
VND 10137639.00 10960439.00 12813118.00 12485332.00
Payable
Total 1255265136.0 1354481627.0 1370161864.0 1476512469.0
VND
Deposits 0 0 0 0
Total Short
Term VND 41998580.00 73612989.00 100705468.00 77785081.00
Borrowings
Current Port. VND 77.00 78.00 78.00 78.00

of LT Debt/
Capital
Leases
Long Term
VND 17379986.00 14366840.00 14698534.00 14337701.00
Debt
Total Long
VND 17379986.00 14366840.00 14698534.00 14337701.00
Term Debt
Total Debt VND 59378643.00 87979907.00 115404080.00 92122860.00
Minority
VND 92420.00 97774.00 102207.00 88383.00
Interest
Other
Liabilities, VND 20889052.00 25269294.00 22895715.00 97048424.00
Total
Common
VND 47325166.00 47325166.00 47325166.00 47325166.00
Stock, Total
Additional
Paid-In VND 4995389.00 4995389.00 4995389.00 4995389.00
Capital
Retained
Earnings
VND 64329911.00 70228492.00 75897972.00 83290381.00
(Accumulate
d Deficit)
Other Equity,
VND 334802.00 342876.00 68816.00 -53234.00
Total
Total
Liabilities & 1462748158.0 1601680964.0 1649664327.0 1813815170.0
VND
Shareholders' 0 0 0 0
Equity
Cash Flow
Cash
VND 19845851.00 43064167.00 43064167.00 91734447.00
Receipts
Cash
VND -6591715.00 -13628817.00 -13628817.00 -31709129.00
Payments
Changes in
Working VND -29993084.00 23862633.00 23862633.00 127372522.00
Capital
Capital
VND -24434.00 -70664.00 -70664.00 -716375.00
Expenditures
Other
Investing
VND 7008.00 22158.00 22158.00 324207.00
Cash Flow
Items, Total
Total Cash VND -3329224.00 -3329224.00 -3329224.00 -3348022.00
Dividends

Paid
Cash Taxes
VND -642532.00 -3017570.00 -3017570.00 -3976351.00
Paid
Capital Market Ratios

Capital Market Ratios
May 04,
Key Ratios
2023
P/E (Price/Earnings) Ratio 14.32
EV/EBITDA (Enterprise Value/Earnings Before Interest, Taxes,
46.44
Depreciation and Amortization)
Enterprise Value/Sales 03.46
Enterprise Value/Operating Profit 46.44
Enterprise Value/Total Assets 00.21
Dividend Yield 00.78
418827700.0
Market Cap
0
379687875.0
Enterprise Value
0
Interim Ratios

Interim Ratios
Unit/ March - June - September December

Key Ratios Ratio Type
Currency 2022 2022 - 2022 - 2022
EPS
Equity
(Earnings VND 1682.44 1254.50 1281.53 1602.93
Ratios
per Share)
Book Value Equity
VND 24719.46 25967.56 27107.64 28643.89
per Share Ratios
Net Profit Profitability
% 41.17 28.72 26.87 38.91
Margin Ratios
PBT
Margin Profitability
% 51.45 35.91 33.52 48.67
(Profit Ratios
Before Tax)
Operating % 38.07 38.09 39.46 42.00 Cost Ratios
Costs (% of

Sales)
Debt to
Leverage
Equity Absolute 00.51 00.72 00.90 00.68
Ratios
Ratio
Net Debt to Leverage
Absolute 00.51 00.72 00.90 00.68
Equity Ratios
Debt to
Leverage
Capital Absolute 00.04 00.06 00.07 00.05
Ratios
Ratio
Efficiency Efficiency
Absolute 00.29 00.35 00.37 00.27
Ratio Ratios
Annual Ratios

Annual Ratios
Ratio Unit/
Key Ratios 2022 2021 2020 2019 2018
Type Currency
Growth Sales
% 22.25 03.30 03.49 13.59 26.80
Ratios Growth
Operating
Growth
Income % 35.95 19.25 -00.70 27.05 61.08
Ratios
Growth
Growth EBITDA
% -100.00 -100.00 -100.00 -100.00 -100.00
Ratios Growth
Growth Net Income
% 35.93 19.21 -00.70 27.23 60.66
Ratios Growth
Growth
EPS Growth % 39.87 18.80 01.45 32.60 66.62
Ratios
Working
Growth
Capital % 00.00 00.00 00.00 00.00 00.00
Ratios
Growth
EPS
Equity
(Earnings VND 5821.41 4162.15 3503.40 3453.19 2604.12
Ratios
per Share)
Equity Dividend per
VND 00.00 00.00 1140.00 595.61 595.61
Ratios Share
Equity Dividend
Absolute 00.00 00.00 03.07 05.80 04.37
Ratios Cover
Equity Book Value 23053.1 19864.6 17088.3 13529.4
VND 28643.89
Ratios per Share 3 4 1 6
Equity Cash Value 18022.8 23558.3 22785.3 18845.1
VND 29755.01
Ratios per Share 1 7 9 2

Profitabili Operating
% 49.93 44.77 42.72 45.68 39.34
ty Ratios Margin
Profitabili Net Profit
% 27.25 24.51 21.24 22.14 19.77
ty Ratios Margin
PBT Margin
Profitabili
(Profit % 34.06 30.63 26.53 27.65 24.72
ty Ratios
Before Tax)
Profitabili Return on
% 22.06 20.16 19.63 22.98 23.52
ty Ratios Equity
Return on
Profitabili
Capital % 00.00 00.00 00.00 00.00 00.00
ty Ratios
Employed
% 01.85 01.60 01.45 01.62 01.38
ty Ratios Assets
% 696.32 500.93 467.69 521.32 422.05
ty Ratios Fixed Assets
Operating
Cost
Costs (% of % 57.31 56.58 61.98 64.47 65.27
Ratios
Sales)
Administrati
Cost
on Costs (% % 25.53 24.99 24.09 25.01 28.11
Ratios
of Sales)
Interest
Cost
Costs (% of % 00.00 00.00 00.00 00.00 00.00
Ratios
Sales)
Leverage Debt to
Absolute 00.68 00.30 00.69 01.44 01.83
Ratios Equity Ratio
Leverage Net Debt to
Absolute -00.36 -00.48 -00.49 00.10 00.43
Ratios Equity
Leverage Debt to
Absolute 00.40 00.23 00.41 00.59 00.65
Ratios Capital Ratio
Efficiency Asset
Absolute 00.07 00.07 00.07 00.07 00.07
Ratios Turnover
Efficiency Fixed Asset
Absolute 20.44 16.35 17.63 18.85 17.07
Ratios Turnover
Capital
Efficiency
Employed Absolute 00.00 00.00 00.00 00.00 00.00
Ratios
Turnover
Efficiency Revenue per 4854380326.
VND 00.00 00.00 00.00 00.00
Ratios Employee 56
Net Income
Efficiency 1323023762.
per VND 00.00 00.00 00.00 00.00
Ratios 11
Employee
Efficiency Capex to
% 00.00 00.00 03.46 01.20 01.54
Ratios Sales

Efficiency Efficiency
Absolute 37.42 36.53 38.79 41.31 44.73
Ratios Ratio
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Joint Stock Commercial Bank for

Foreign Trade of Vietnam

Published: 03 Apr 2023 Page 1

Opportunities-Growing Markets for Payment Channels: Vietnam......................11

Published: 03 Apr 2023 Page 2

Published: 03 Apr 2023 Page 3

Joint Stock Commercial Bank for Foreign Trade of

Joint Stock Commercial Bank for Foreign Trade of Vietnam-

Joint Stock Commercial Bank for Foreign Trade of Vietnam-

As of December 31, 2021, it had total assets of VND1,414.7 trillion, loans to

As of December 31, 2021, it operated through 121 branches of which 14 branches in

Published: 03 Apr 2023 Page 4

Banking Financial Services

Banking Financial Services

Non-Banking Financial Services

Non-Banking Financial Services

Published: 03 Apr 2023 Page 5

Published: 03 Apr 2023 Page 6

The Middle and Central Highland

Joint Stock Commercial Bank for Foreign Trade of Vietnam-

Credit Cards Internet Banking

Published: 03 Apr 2023 Page 7

Source : GlobalData Research analysis / © GlobalData Research

Joint Stock Commercial Bank for Foreign Trade of Vietnam-

Joint Stock Commercial Bank for Foreign Trade of Vietnam- History

Published: 03 Apr 2023 Page 8

for establishing a representative office in New

Joint Stock Commercial Bank for Foreign Trade of Vietnam-

Vietcombank’s strategic objective is to become the number one bank in profitability

Published: 03 Apr 2023 Page 9

It focuses on renovating the growth model and restructuring business operations,

Joint Stock Commercial Bank for Foreign Trade of Vietnam-

Joint Stock Commercial Bank for Foreign Trade of Vietnam-

Published: 03 Apr 2023 Page 10

Strengths-Business performance - Banking Financial Services

Joint Stock Commercial Bank for Foreign Trade of Vietnam-

Vietcombank reported deterioration in its asset quality in FY2021, which restricts

Weaknesses-Limited International Presence

The bank’s limited international presence could be an area for improvement as it

Joint Stock Commercial Bank for Foreign Trade of Vietnam-

Opportunities-Growing Markets for Payment Channels: Vietnam

Published: 03 Apr 2023 Page 11

Opportunities-Short-Term Economic Outlook: Vietnam

Joint Stock Commercial Bank for Foreign Trade of Vietnam-

Published: 03 Apr 2023 Page 12

Threats-Risks Related to Online Identity Theft and Hacking

Joint Stock Commercial Bank for Foreign Trade of Vietnam-

Joint Stock Commercial Bank for Investment and Development of Vietnam

Joint Stock Commercial Bank for Foreign Trade of Vietnam-

Published: 03 Apr 2023 Page 13

Shojiro Chief Executive

Published: 03 Apr 2023 Page 14

Joint Stock Commercial Bank for Foreign Trade of Vietnam-

In the context of unprecedented difficulties and challenges, Vietcombank has

Besides business activities, Vietcombank also actively participates in social welfare

Published: 03 Apr 2023 Page 15

initiatives, displaying the social responsibility of a large brand. In 2021, Vietcombank

Focusing on drastically implementing the digital transformation roadmap with the

In order to successfully complete the set goals and strategic orientations,

Joint Stock Commercial Bank for Foreign Trade of Vietnam-

198 Tran Quang Khai

Published: 03 Apr 2023 Page 16

Other Locations & Subsidiaries