Vietcombank
A major Vietnamese commercial bank originating in the country's foreign-exchange and trade-finance system.
Last updated November 4, 2026
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Overview
Vietcombank, formally the Joint Stock Commercial Bank for Foreign Trade of Vietnam, is one of Vietnam's largest commercial banks. It began in 1963 as a specialized institution separated from the foreign-exchange apparatus of the State Bank of Vietnam, with a mandate centered on foreign trade, foreign-exchange operations, and related settlement services. Over time, it expanded beyond that specialist role into a broad banking group serving corporations, government-linked organizations, small and medium-sized enterprises, and retail customers. The bank's principal activities include corporate lending, retail deposits and loans, payment services, card and digital banking, international payments, trade finance, foreign-exchange services, treasury operations, and investment banking-related services. Its historical expertise in cross-border transactions has remained an important part of its identity, while its domestic franchise has developed into a nationwide commercial-banking network. The bank also operates through subsidiaries, joint ventures, associates, and overseas representative offices. Vietcombank was selected by the Vietnamese government as a pilot for the equitization of a state-owned commercial enterprise. Following its initial public offering, its shares began trading on the Ho Chi Minh Stock Exchange in 2009 under the symbol VCB. The listing made it one of the most prominent publicly traded Vietnamese banks and increased the visibility of its governance, capital, and performance among domestic and international investors. In 2011, Japan's Mizuho Corporate Bank, part of Mizuho Financial Group, became a strategic shareholder. The brand has progressively modernized its operating model. It introduced a new visual identity and the slogan "Shared trust - Strong future" in 2013, received approval to apply Basel II requirements in 2018, and placed a new core-banking system into live operation in 2020. Vietcombank has also developed an international presence through representative offices and overseas subsidiaries or affiliates, supporting Vietnamese companies and foreign businesses connected to Vietnam. As of 2024, the bank's domestic network comprised 131 branches and 536 transaction offices, alongside four domestic subsidiaries, three international subsidiaries, four joint ventures and affiliates, and representative offices in Ho Chi Minh City, Singapore, and the United States. Its business positioning combines state-linked institutional strength, a large domestic deposit and payments franchise, corporate and trade-finance expertise, and an increasingly digital retail proposition. Vietcombank remains an active listed bank rather than a standalone financial product brand.
History
Vietcombank's institutional predecessor was the Foreign Exchange Management Department of the National Bank of Vietnam, established on 20 January 1955. In 1961, that department became the Foreign Exchange Bureau under the State Bank of Vietnam. The bureau provided the organizational foundation for the creation of a dedicated foreign-trade bank. On 1 April 1963, the Bank for Foreign Trade of Vietnam was established after being separated from the State Bank's Foreign Exchange Bureau. Its initial role was specialized: it handled foreign-exchange operations and banking services associated with Vietnam's foreign trade. This focus gave the institution expertise in international settlement, trade-related finance, and relationships with overseas counterparties. The bank broadened its mandate in 1990, when it moved beyond an exclusively foreign-trade orientation and began operating as a mass-market commercial bank. In 1996, its official name was changed to Joint Stock Commercial Bank for Foreign Trade of Vietnam, reflecting the institution's continuing transformation and its later equitization. The Vietcombank name became the principal public-facing brand. In 2008, the Vietnamese government selected Vietcombank as a pilot for the privatization or equitization of a state-owned enterprise. The bank subsequently completed an initial public offering and listed on the Ho Chi Minh Stock Exchange on 30 June 2009. The offering was described in the reference material as having raised US$652 million and as being the largest Vietnamese initial public offering at that time; the figure is not repeated here as a current financial measure because it relates only to the historical transaction. The bank deepened its international strategic links in 2011 through an agreement with Mizuho Corporate Bank, a member of Japan's Mizuho Financial Group. In 2013, it introduced a revised brand identity and the slogan "Shared trust - Strong future," presenting a more unified image as it served both institutional and retail customers. The bank regained the leading position in Vietnam's banking market by profit in 2016, according to the reference material. Regulatory and technological modernization became prominent in the following years. In 2018, Vietcombank became the first Vietnamese bank officially authorized to apply Basel II under State Bank of Vietnam Circular 41. In 2019, it was reported as the first Vietnamese bank to reach a profit milestone of one billion US dollars. The same year, it expanded its international representation by opening a New York office after approvals from US financial authorities. In 2020, it completed the live deployment of a new core-banking system. By 2024, Vietcombank had developed into a large universal bank with a nationwide network, domestic and international subsidiaries, joint ventures, affiliates, and representative offices. Its investment relationships also expanded: in October 2024 it became Eximbank's second-largest shareholder. The modern Vietcombank therefore combines its original foreign-trade mission with retail banking, corporate finance, payments, treasury, digital services, and participation in a wider financial-services group.
- 2024
Became Eximbank's second-largest shareholder
[1]Vietcombank acquired the position of second-largest shareholder in Eximbank in October.
- 2020
New core-banking platform went live
[1]Vietcombank completed the live launch of a new core-banking system.
- 2019
New York representative office opened
[1]The bank opened a representative office in New York after receiving US regulatory approvals.
- 2018
Basel II approval
[1]Vietcombank became the first Vietnamese bank officially authorized to apply Basel II under Circular 41.
- 2013
New brand identity launched
[1]The bank introduced a new identity system and the slogan "Shared trust - Strong future."
- 2011
Mizuho strategic shareholder agreement
[1]Vietcombank formed a strategic shareholder relationship with Mizuho Corporate Bank.
- 2009
Listed on the Ho Chi Minh Stock Exchange
[1]Vietcombank listed under the ticker VCB on 30 June after its initial public offering.
- 2008
Chosen as a pilot for state-enterprise equitization
[1]The Vietnamese government selected Vietcombank for a pilot privatization process.
- 1996
Official name changed to Joint Stock Commercial Bank for Foreign Trade of Vietnam
[1]The institution adopted the name associated with its joint-stock commercial-bank structure.
- 1990
Expansion into mass-market commercial banking
[1]The bank diversified beyond its original exclusive focus on foreign trade.
Products and positioning
A leading Vietnamese universal bank combining state-linked credibility, a strong corporate and trade-finance franchise, nationwide reach, and expanding retail and digital services.
Banking services
Retail banking
Vietcombank's retail franchise serves individual customers through deposits, savings, consumer lending, cards, payments, foreign-exchange services, and electronic banking. Its large branch and transaction-office network supports everyday banking while digital channels extend account access and payment functionality.
Banking services
Corporate banking
Corporate banking is a central part of Vietcombank's universal-bank model. Services include business deposits, credit, cash management, payments, treasury support, and financing for companies operating in Vietnam or engaged in cross-border commerce.
International banking · 1963
Trade finance and international payments
Trade finance and international settlement reflect Vietcombank's original institutional purpose. The bank supports importers, exporters, and other internationally connected businesses through cross-border payment services, foreign-exchange operations, and trade-related banking facilities.
Payments and digital finance
Cards and digital banking
Vietcombank provides card and electronic banking services as part of its retail and payments offering. The deployment of a new core-banking system in 2020 supported the bank's broader technology modernization and digital-service development.
Marketing campaigns
- 2013Shared trust - Strong future
Vietnam
Vietcombank launched a new brand identity system built around the slogan "Shared trust - Strong future," reinforcing a unified image as the bank expanded from foreign-trade specialization into universal commercial banking.
Outcome. The identity became an established expression of the bank's positioning.
Brand decisions
2024
Investment in EximbankM&ABackground
Vietcombank continued to participate in Vietnam's financial-sector ownership and institutional network.
Action taken
In October, it became Eximbank's second-largest shareholder.
Aftermath
The move increased Vietcombank's significance as a shareholder within Vietnam's banking sector.
2020
Core-banking modernizationGeneration changeBackground
A large universal bank required a modern transaction-processing foundation for expanding retail, corporate, and digital services.
Action taken
Vietcombank put a new core-banking system into live operation.
Aftermath
The implementation strengthened the bank's technology base and supported continued digital transformation.
2018
Adoption of Basel II frameworkStrategyBackground
Vietnamese banking regulation was moving toward stronger capital and risk-management standards.
Action taken
Vietcombank received official authorization to apply Basel II under Circular 41.
Aftermath
The approval marked a regulatory and risk-management milestone for Vietcombank and the Vietnamese banking sector.
2011
Strategic partnership with MizuhoM&ABackground
Vietcombank sought to strengthen international strategic links and shareholder support.
Action taken
The bank signed a strategic shareholder agreement with Mizuho Corporate Bank.
Aftermath
Mizuho became an important strategic shareholder and connected Vietcombank with a major Japanese financial group.
2008
Pilot state-enterprise equitizationStrategyBackground
The Vietnamese government sought to test the conversion of a state-owned commercial enterprise into a joint-stock structure.
Action taken
Vietcombank was selected for the pilot and subsequently prepared an initial public offering.
Aftermath
The process culminated in a 2009 Ho Chi Minh Stock Exchange listing, while the bank retained a strong state-linked identity.
Recent events
- Unconfirmed
Reported
Vietcombank wins IDC Financial Insights Innovation Award 2021[3]
Vietcombank won the IDC Financial Insights Innovation Award 2021 as Best Bank in Vietnam for its payments and cash management system initiative.
- Unconfirmed
Reported
Vietcombank deploys iGTB digital transaction banking suite[4]
Vietcombank deployed iGTB's Digital Transaction Banking Enterprise Suite, with VCB CashUp offering corporate customers digital payments and cash-management capabilities.
Sources4 sources
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