Trading name Vietcombank Industry Banking and Finance Founded 1 April 1963 Total assets 5.88 trillion VND (2014) | Type Joint stock bank Headquarters Hanoi, Vietnam Revenue 36.84 trillion VND (2014) Net income 577 trillion VND (2014) | |
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Native name Ngân hàng Ngoại thương Việt Nam Key people Nghiem Xuan Thanh
Chairman
Pham Quang Dung
Chief executive officer Products List
Consumer Banking
Corporate Banking
Investment Banking
Insurance
Mortgages
Real estate CEO Pham Quang Dung (1 Nov 2014–) Subsidiaries Joint Stock Commercial Bank For Foreign Trade Of Vietnam, Asset Management Arm Profiles | ||
Joint Stock Commercial Bank for Foreign Trade of Vietnam, Ngân hàng Ngoại thương Việt Nam, commonly referred to as Vietcombank, is a commercial bank in Vietnam.
Contents
Overview
Vietcombank's headquarters are located in Hanoi, Vietnam. As of 31 December 2014 the bank had 89 branches in Vietnam, 3 local subsidiaries, 2 overseas subsidiaries, 3 joint ventures, one associate, an overseas representative office in Singapore and was the largest listed company by market capitalization on the Ho Chi Minh City Stock Exchange with a valuation of VND 85,014 billion (US$3.98 billion).
History
Joint Stock Commercial Bank for Foreign Trade of Vietnam was founded on April 1, 1963 as Bank for Foreign trade of Vietnam. It was span off from the Foreign Exchange Bureau of the State Bank of Vietnam to be an exclusive bank for foreign trade.
In 1990, Vietcombank diversified its services from being exclusively focused on foreign trade to a become a mass market commercial bank. In 1996 the bank's official name was changed to Joint Stock Commercial Bank for Foreign Trade of Vietnam.
In 2008, Vietcombank was selected by the government to be the pilot for privatization of state owned companies. The bank was then after listed on the Ho Chi Minh Stock Exchange on June 30, 2009 after a successful IPO that raised US$652 million making it the biggest Vietnamese firm to conduct an initial public offering.
Member companies
Other than providing banking services, Vietcombank has invested in subsidiaries, joint ventures and associates. These investments include but are not limited to the following:
Ownership
The shares of the stock of Vietcombank are traded on the Ho Chi Minh Stock Exchange, under the symbol: VCB. As of 31 December 2014, The shareholding in the bank's stock was a follows:
Governance
Vietcombank is governed by a seven-person Board of Directors with Nghiem Xuan Thanh serving as the Chairman and Pham Quang Dung as the CEO.
Vietcombank Tower
Vietcombank Tower is 35 storey building in Ho Chi Minh City. The tower is a venture between Vietcombank and FELS Property Holding of Singapore.