VI
Vietcombank is committed to being attentive and dedicated to its customers, making it a key principle of its efforts.
Building a national bank that can compete on a regional and global scale by establishing extensive connections.
Vietcombank is committed to being attentive and dedicated to its customers, making it a key principle of its efforts.
Building a national bank that can compete on a regional and global scale by establishing extensive connections.
Cultural Identity
Reliability
Upholding trustworthiness and professionalism.
Standards
Respecting principles and maintaining high standards of behavior
Readiness for Innovation
Always striving for novelty, modernity, and sophistication
Sustainability
Working for long-term benefits.
Humanity
Valuing ethics, being approachable, empathetic, and compassionate
History of Development
Over the past 60 years, Vietcombank has made significant contributions to the country's struggle for national unification, the establishment of socialism in the northern region, and participated in overcoming difficulties during the period of central planning. It has been a pioneering bank during the periods of renewal, integration, and development. Particularly, the last 10 years have marked a remarkable transformation and breakthrough for Vietcombank, with impressive growth in scale, business quality, and efficiency, achieving new heights and continued success. This has opened up great opportunities for the bank in the next phase of development, contributing to the overall prosperity of Vietnam.
- The JSC Bank for Foreign Trade of Vietnam, formerly known as Bank for Foreign Trade of Vietnam, was established on April 01st, 1963 from the Foreign Exchange Bureau (of the State Bank of Vietnam).
- Being the first state commercial bank chosen for pilot privatization by the Government, Joint Stock Commercial Bank for Foreign Trade of Vietnam officially commenced operation on June 2nd, 2008 after the successful implementation of the equitization plan through initial public offering. On June 30th, 2009, Vietcombank (ticker symbol: VCB) was officially listed on Ho Chi Minh City Stock Exchange.
- During its 60 years of growth and development, Vietcombank has contributed significantly to the stability and growth of national economy, upholding the role of a major foreign trade bank in facilitating efficient domestic economic growth as well as expanding influence in the regional and global financial community
- Originally a specialized bank for foreign trade, Vietcombank nowadays has become a universal bank, providing customers with a wide range of leading financial services in international trade; from traditional services such as money market, capital market, credit, project financing, etc., to modern banking services such as forex trading and derivatives, card services, e-banking, etc.
- Owning a modern banking technical infrastructure with the successful transformation of the core banking system (Core Banking) in early 2020, Vietcombank has many advantages of applying advanced technology into the automatic banking system, products development, e-banking services, based on its high technology foundation. The digital transaction space with the multi-functional digital banking services provided to retail and commercial customers such as: VCB Digibank, VCB - iB@nking, VCB CashUp, VCB DigiBiz... has attracted and will continue to attract a large number of customers with its convenience, speed, safety, effectiveness, thereby promoting cashless payment to the Bank’s customer base at large
- After more than half a century of operation in the market, nowadays, Vietcombank is one of the largest commercial banks in Vietnam. Vietcombank currently has more than 600 branches/transaction offices/representative offices/affiliates both in Vietnam and abroad including: Head quarter in Hanoi; 126 Branches; 510 transaction offices; 04 domestic Subsidiaries (Leasing Company, Securities Company, Remittance Company, Vietcombank Tower 198); 03 overseas Subsidiaries (Vinafico Hongkong Company, VCB Money Inc. in the U.S, a Subsidiary bank in Laos); 01 Representative office in Ho Chi Minh City; 01 Representative Office in Singapore, 01 Representative Office in the US ; 03 Non-business units: Human Resources Development and Training School; 01 Cash Processing Center in Hanoi and 01 Cash Processing Center in Ho Chi Minh City; 03 Joint-venture and associate companies. Vietcombank currently employs nearly 23,000 people. In addition, Vietcombank has also developed an Autobank system with over 2,500 ATMs and more than 60,000 merchants accepting card payments across the country. The banking operations are also supported by a network of 1,163 correspondent banks in 93 countries and territories in the world.
- Vietcombank’s team of professional employees with solid background in banking and finance and a good sense for modern and integrated business environment. Thanks to their contribution, Vietcombank remains the primary choice for large corporations, domestic and foreign enterprises as well as millions of individual customers.
- Heading towards international standards, Vietcombank has been continuously rated as “Best Bank in Vietnam” by global prestigious organizations. Vietcombank is also the leading bank in Vietnam voted among Top 500 world’s leading banks by The Banker in 2022; the only bank of Vietnam among Top 30 Strongest Banks in Asia – Pacific region according to The Asian Banker rankings; and the only representative of Vietnam among the Forbes’ Top 1,000 The World’s Largest Public Companies at the rank of 950. In 2022, in the list of “100 Vietnam best places to work” (announced by Anphabe – a pioneer in consulting employer branding solutions and happy working environment in Vietnam and Intage - a leading market research company in Japan), Vietcombank was ranked the No. 1 in banking industry, No. 3 in Vietnam market, maintaining its leading position for 7 consecutive years as the bank with the best working environment in Vietnam. In 2022, Vietcombank is honored to receive the “Most Helpful Bank during COVID-19 in Vietnam” award by The Asian Banker, which recognizes local corporations for their prominent contributions to business efficiency, and policies in response to the COVID-19 pandemic.
- With considerable determination and high dedication, Vietcombank staff has been constantly striving for a more and more sustainable Vietcombank with the objectives to firmly keep the position as the leading bank in Vietnam towards 2030; to become one of 200 largest banking and financial corporations in the world; one of 700 global largest public companies; and to contribute significantly to the development of Vietnam.
Leading in innovation and digital transformation
Vietcombank has been awarded prestigious prizes: the most innovative and efficient bank in Vietnam; an exemplary digital transformation bank
Reaffirming social responsibility
Vietcombank is the No. 1 bank to contribute tax to the state budget
Promoting management capacity
January 2021, The Asian Banker magazine awarded Joint Stock Commercial Bank for Foreign Trade of Vietnam the award of “Best-managed bank during the COVID-19 pandemic”
Vietcombank applied advanced technology systems, firmly affirming the No. 1 position
On January 27th, 2020: Vietcombank successfully went live with its Core Banking system; During this period, Vietcombank has successfully overcome the Covid-19 pandemic and solidified its position as the number one bank in Vietnam across multiple aspects. It is also listed among the top 100 publicly traded banks globally in terms of market capitalization, according to Reuters
Continuing to expand operations, achieving a record profit of 1 billion US dollars.
On November 1st, 2019, Vietcombank’s Representative Office was officially launched in the U.S; On November 12th, 2019, Vietcombank signed an insurance distribution agreement with FWD Insurance Company, which has the largest value in the life insurance sector up to the signing date; In 2019, Vietcombank continued to achieve impressive breakthroughs and new records, becoming the first Vietnamese bank to reach USD 01 billion in profit
Expanding the operating network abroad and meet international standards
On October 19th, 2018, Vietcombank officially inaugurated its operations in Laos; On November 28th, 2018, Vietcombank became the first bank officially granted Decision No. 2315/QD-NHNN by the State Bank of Vietnam approving the implementation of Basel II. The Bank is allowed to apply Circular No. 41 one year earlier than required.
Issuing development strategy
December 1, 2016: Vietcombank issued its development strategy until 2020. In 2016, Vietcombank regained the No. 1 position in profit.
Launching a new brand identity system
March 31, 2013: Vietcombank launched a new brand identity system with the slogan "Together for the future"
Signing strategic shareholder contract
On September 30, 2011: Vietcombank signed a strategic shareholder contract with Mizuho Corporate Bank of Mizuho Financial Group, Japan.
Listing and trading on the stock exchange
On June 30th, 2009: VCB shares were officially listed and traded on the Ho Chi Minh City Stock Exchange (HOSE)
Converting into a joint stock commercial bank
On June 2nd, 2008: Vietcombank officially converted into a joint stock commercial bank after pioneering equitization and successfully issuing initial public offerings (IPO) in 2007
Completing the successful Restructuring Scheme
2000-2005: Vietcombank pioneered building and completing the successful Restructuring Scheme and modernization bank
Issuing Vietnamese dong bills of foreign currency origin
1987: Vietcombank is the only commercial bank allowed to issue Vietnamese dong bills of foreign currencies origin, contributing to the synchronous management of foreign currency use and spending.
Taking over the old banking system, confirm the role of foreign bank
From April 1975 to 1987: Vietcombank participated in taking over the old banking system, inheriting Vietnam's membership rights at international financial institutions; participated in handling the national debt, fighting against embargoes; successfully assumed the role of the only bank holding the monopoly on three aspects: foreign currency, import-export credit and payment for international transactions.
Operating the monetary route
From April 1965 to April 1975: Vietcombank directly participated in the operation of the monetary route (codename B29), received and "processed" money from abroad, brought it back to the country to manage and provide aid for Southern Revolution
Vietcombank officially went into operation
April 1st, 1963: Vietcombank officially went into operation ( in accordance with Decree No. 115/CP dated October 30th, 1962 issued by the Government Council)
The predecessor of Vietcombank
January 1st, 1955: Establish the Foreign Exchange Management Department under the Vietnam National Bank - The predecessor of Vietcombank
Awards and Achievements
