Founded in 1963, Vietcombank, whose full name is Joint Stock Commercial Bank for Foreign Trade of Vietnam, is headquartered at 198 Tran Quang Kie Road, Hoan Kiem District, Hanoi City.
The bank was originally a branch of the State Bank of Vietnam's Foreign Exchange Bureau, focusing on foreign trade banking. In 1990, with the market-oriented reform, Vietcombank was transformed into a joint-stock commercial bank. In 2008, as part of Vietnam's state-owned enterprise privatization policy, Vietcombank was listed on the Ho Chi Minh City Stock Exchange in an initial public offering that raised US$652 million, making it the largest IPO in Vietnam at the time.
Currently, the State Bank of Vietnam holds about 74.8% of the shares of Vietcombank, Mizuho Bank of Japan holds 15% of the shares, and the rest of the shares are held by other investors.
Scope of
ServicesVietcombank has an extensive service network in Vietnam, including 116 branches and 474 trading offices. In addition, the bank has an overseas representative office in Singapore and subsidiaries in countries such as Laos to gradually expand its international business.
Regulation &
ComplianceVietcombank is regulated by the State Bank of Vietnam (SBV) and has joined Vietnam's deposit insurance program to protect the interests of depositors. In recent years, the bank has performed well in terms of compliance and has no record of major violations.
Financial HealthVietcombank
is in a strong financial position. At the end of 2021, the bank's non-performing loan ratio was 0.63%, the lowest level in Vietnam's banking system. The bad debt coverage ratio reached 424%, showing strong risk resilience.
Deposits &
LoansDeposits:
Vietcombank offers a variety of deposit products, including demand and time deposits. In 2023, the bank lowered its online deposit rate to the same as the over-the-counter deposit rate, reflecting fair treatment of customers.
Loans:
Vietcombank offers a wide range of loan products, including home loans, car loans, and personal lines of credit. In 2023, the bank will reduce the annual loan interest rate by 0.5% for individual and institutional customers with outstanding loans (except for customers in risk areas such as real estate and securities) to support customers' funding needs.
List of common feesVietcombank
has atransparent fee structure for account management fees, transfer fees, overdraft fees, and ATM withdrawal fees, depending on the type of account and the type of transaction. The bank also reminds customers to be aware of possible additional fees such as minimum balance limits.
Digital Service
ExperienceVietcombank is committed to digital transformation, providing feature-rich mobile apps and online banking services. The app supports features such as facial recognition, real-time transfers, bill management, and integration with investment tools. In addition, the bank has introduced technological innovations such as AI customer service, robo-advisors, and open banking APIs to improve the customer experience.
Customer Service
QualityVietcombank offers multi-channel customer service, including 24/7 phone support, live chat, and social media response. The bank values customer feedback and is committed to improving the efficiency of complaint handling and user satisfaction. In addition, Vietcombank also provides multi-language support, which is convenient for cross-border users.
Security Measures
: Deposits
at Vietcombank are covered by Vietnam's deposit insurance scheme. The bank uses anti-fraud technologies such as real-time transaction monitoring to ensure the safety of customer funds.
Data security:
Vietcombank attaches great importance to data security and has passed international certifications such as ISO 27001, and there have been no major data breaches.
Featured Services and DifferentiationVietcombank
provides customized services for different customer groups, such as fee-free accounts for students, exclusive wealth management products for the elderly, and green financial products to support ESG investment. In addition, the bank also provides private banking services to high-net-worth clients, providing customized financial solutions.
Market Position & AccoladesVietcombank
is the largest bank in Vietnam by market capitalization, with a brand value of US$2.04 billion in 2024, ranking first in the banking industry for two consecutive years. The bank has also received accolades such as the "Most Powerful Bank in Vietnam" by The Asian Banker and the "Best Places to Work in Asia" by HR Asia magazine.
