Chairman of the Board of Directors of Vietcombank Nghiem Xuan Thanh (centre) receives the award (Source:

Hanoi (VNA) – The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) was named as the bank with the strongest balance sheet in Vietnam by The Asian Banker, a finance and banking magazine.

This is the second consecutive year that the bank has received the title, which was awarded in a ceremony to honour the 500 largest banks in the region.

The ranking was based on a detailed and transparent scorecard that ranks commercial banks on six areas of balance sheet financial performance; the ability to scale, balance sheet growth, risk profile, profitability, asset quality and liquidity.

Vietcombank was also named Vietnam’s best bank, best trade finance bank, best FX bank for corporates & financial institution in 2014, and Vietnam’s best bank in 2015.

In 2016, the bank’s total assets reached 787.9 trillion VND (34.7 billion USD), up 16.8 percent year-on-year, with pre-tax profits of 8.52 trillion VND (375 million USD).-VNA