Having undergone nearly 25 years of operation, VietinBank has become the leading commercial bank in Vietnam, providing financial and banking products and services of unmatched quality. VietinBank is the first one in Vietnam to establish branches in Europe and has a relationship with more than 1,000 corresponding banks and remittance companies worldwide.
Vietnam Joint-Stock Commercial Bank for Industry and Trade (VietinBank) was established in 1988 after being separated from the State Bank of Vietnam. From a state-owned bank with initial tasks of only providing domestic financial and banking services, VietinBank has made great strides and strongly developed into one of the most modern and effective financial and banking groups in the country.
In the 90s, VietinBank was based in an old five-storey building at No.16-18 Phan Dinh Phung Street, Hanoi, however, soon after it changed its appearance with modern facilities, including a 17-storey building at No.108, Tran Hung Dao Street, a 12-storey building in Ba Dinh District and a 16-storey one in Dong Da District.
In the 90s, VietinBank was based in an old five-storey building at No.16-18 Phan Dinh Phung Street, Hanoi, however, soon after it changed its appearance with modern facilities, including a 17-storey building at No.108, Tran Hung Dao Street, a 12-storey building in Ba Dinh District and a 16-storey one in Dong Da District.
 State President Truong Tan Sang and VietinBank CEO Pham Huy Hung inaugurate a VietinBank branch in Vientiane, Laos (February 2012). Photo: File  Vice State President Nguyen Thi Doan and delegates cut the ribbon to inaugurate a VietinBank branch in Berlin, Germany in 2012. Photo: File  VietinBank CEO Pham Huy Hung on behalf of VietinBank receives the International Golden Quality Award in 2010 in New York from the Business Initiative Direction (B.I.D). Photo: File  At the transaction department, VietinBank Ba Dinh Branch. |
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To prepare for its long-term development strategy, Vietinbank has also invested in building a School for Human Resource Development and Training in an area of 10ha in Van Canh Commune, Hoai Duc District, Hanoi. The school consists of 60 classrooms with a capacity of 3,000 students and a system of a library, a gym, a tennis court, a swimming pool, a hall for organizing events and a well-equipped dormitory.
At present, VietinBank is one of the largest commercial banks in Vietnam with a total registered capital of 32 trillion dong and assets greater than 503 trillion dong. It has the most powerful shareholder structure in Vietnam with two strategic shareholders, including Bank of Tokyo-Mitsubishi UFJ (BTMU) – the largest one in Japan and the World Bank’s International Finance Corporation (IFC).
With its policy on wide integration, VietinBank is carrying out the strategy to expand its branch network abroad and strengthen its domestic and international presence.
VietinBank is the first Vietnamese bank which opened a representative office in Frankfurt, Germany in 2010 and its first branch in the same place in September 2011. Then, it established a branch in Vientiane, Laos. In the near future, VietinBank will open new branches in England, Poland and the Czech Republic.
Despite the world’s gloomy financial market, in 2012 VietinBank successfully issued 250 million dollars worth of bonds in international markets and sold a 20% stake to its Japanese strategic partner, BTMU that marked great progress for ViettinBank on the path to international integration.
With invaluable contributions from professional staff members, Vietinbank has now become the country’s best performing bank with regard to credit quality and financial performance. Of particular significance is that Vietinbank is the only Vietnamese enterprise to be ranked among the Top 2000 enterprises in the world by Forbes Magazine in 2012. Early this year, it was named in the top 500 banking brands globally with a trade mark value of 271 million dollars by Brand Finance - the world’s leading brand valuation consultancy firm.
At present, VietinBank is one of the largest commercial banks in Vietnam with a total registered capital of 32 trillion dong and assets greater than 503 trillion dong. It has the most powerful shareholder structure in Vietnam with two strategic shareholders, including Bank of Tokyo-Mitsubishi UFJ (BTMU) – the largest one in Japan and the World Bank’s International Finance Corporation (IFC).
With its policy on wide integration, VietinBank is carrying out the strategy to expand its branch network abroad and strengthen its domestic and international presence.
VietinBank is the first Vietnamese bank which opened a representative office in Frankfurt, Germany in 2010 and its first branch in the same place in September 2011. Then, it established a branch in Vientiane, Laos. In the near future, VietinBank will open new branches in England, Poland and the Czech Republic.
Despite the world’s gloomy financial market, in 2012 VietinBank successfully issued 250 million dollars worth of bonds in international markets and sold a 20% stake to its Japanese strategic partner, BTMU that marked great progress for ViettinBank on the path to international integration.
With invaluable contributions from professional staff members, Vietinbank has now become the country’s best performing bank with regard to credit quality and financial performance. Of particular significance is that Vietinbank is the only Vietnamese enterprise to be ranked among the Top 2000 enterprises in the world by Forbes Magazine in 2012. Early this year, it was named in the top 500 banking brands globally with a trade mark value of 271 million dollars by Brand Finance - the world’s leading brand valuation consultancy firm.
 The School for Human Resource Development and Training was built in an area of 10ha in Van Canh, Hoai Duc, Hanoi  Vietinbank is the first bank providing loans for Vinasat 1 project of Vietnam.  Vietinbank leaders at the inauguration of Nam Yet Culture Centre funded by VietinBank in Truong Sa Archipelago.   VietinBank is also the first bank providing loans for major projects and spearheading economic sectors of the country. |
Thanks to its powerful financial potential, VietinBank has become a large partner providing credit for many national major projects, including Son La Hydro-power Plant, Lai Chau Hydro-power Plant, Ca Mau gas-power-nitrogen fertilizer complex, Dung Quat Refinery Project of PetroVietnam, Vinasat I and 3G network project of the Vietnam Posts and Telecommunications Group.
VietinBank has also been selected to serve many ODA projects by the world’s financial institutions and credit agencies, including the World Bank, the Asian Development Bank, JICA, Japan Bank for International Cooperation (JBIC) and German Rebuild Bank.
So far, VietinBank has established relations with nearly 1,000 financial institutions in 90 nations all over the world and is an official member of the Society for Worldwide Interbank Financial Telecommunication (SWIFT), the International Organizations of VISA and MasterCard and the ASEAN Banker Association.
With its great success and contribution to the process of renewal and economic integration, VietinBank was awarded the title “Labour Hero” on January 7, 2013 that is an honorable reward, marking 25 years of development.
Story: Vinh Hung - Photos: Tat Son, Files
