Establishment and Operation License No. 138/GP-NHNN dated 23 May 2008 issued by the State Bank of Vietnam, Decision No. 2719/QD-NHNN dated 27 December 2011, Decision No. 523/QD-NHNN dated 22 March 2012, Decision No. 1547/QD-NHNN dated 6 August 2014, Decision No. 2182/QD-NHNN dated 26 October 2015, Decision No. 95/QD-NHNN dated 18 January 2017, Decision No. 891/QD-NHNN dated 8 May 2017, Decision No. 2293/QD-NHNN dated 31 October 2017, Decision No. 300/QD-NHNN dated 21 February 2019, Decision No. 2447/QD-NHNN dated 25 November 2019, Decision No. 346/QD-NHNN dated 10 March 2022, Decision No. 700/QD-NHNN dated 19 April 2022 and Decision No. 1788/QD-NHNN dated 19 September 2023 promulgated by the State Bank of Vietnam amending and supplementing the operations of Joint Stock Commercial Bank for Foreign Trade of Vietnam.
STATEMENTS
Reliably and Steadfastly
creating Impressions
Mr. Pham Quang Dung | Chairman | Resigned on 1 January 2024 | ||
Mr. Do Viet Hung | Member in charge of the Board of Directors | Appointed on 1 January 2024 | ||
Mr. Nguyen Thanh Tung | Member | Re-appointed on 21 April 2023 | ||
Mr. Nguyen My Hao | Member | Re-appointed on 21 April 2023 | ||
Mr. Nguyen Manh Hung | Member | Re-appointed on 21 April 2023 | ||
Mr. Hong Quang | Member | Re-appointed on 21 April 2023 | ||
Mr. Shorijo Mizoguchi | Member | Re-appointed on 21 April 2023 | ||
Mrs. Nguyen Thi Kim Oanh | Member | Appointed on 24 November 2023 | ||
Mr. Vu Viet Ngoan | Independent Member | Appointed on 21 April 2023 | ||
Mr. Truong Gia Binh | Independent Member | Resigned on 21 April 2023 |
Mr. Nguyen Thanh Tung | Chief Executive Officer (“CEO”) | Appointed on 30 January 2023 | ||
Mr. Pham Manh Thang | Deputy CEO | Retired on 1 May 2023 | ||
Mrs. Dinh Thi Thai | Deputy CEO | Re-appointed on 1 June 2020 | ||
Mrs. Phung Nguyen Hai Yen | Deputy CEO | Re-appointed on 15 December 2022 | ||
Mr. Le Quang Vinh | Deputy CEO | Re-appointed on 15 December 2022 | ||
Mr. Dang Hoai Duc | Deputy CEO | Appointed on 1 April 2019 | ||
Mr. Shorijo Mizoguchi | Deputy CEO | Appointed on 23 April 2021 | ||
Mr. Nguyen Viet Cuong | Deputy CEO | Appointed on 26 April 2022 | ||
Mr. Le Hoang Tung | Deputy CEO | Appointed on 15 August 2023 | ||
Mr. Ho Van Tuan | Deputy CEO | Appointed on 15 August 2023 | ||
Mrs. Nguyen Thi Kim Oanh | Deputy CEO | Resigned on 24 November 2023 | ||
Mr. Colin Richard Dinn | Head of Transformation Division | Appointed on 24 November 2023 | ||
Mr. Tran Thanh Nam | Head of IT and Digital Transformation Division Head of Innovation | Appointed on 15 November 2023 Appointed on 26 April 2022 | ||
Mrs. Nguyen Thi Hong Van | Head of Legal and Compliance Division | Appointed on 15 November 2023 | ||
Mrs. Doan Hong Nhung | Head of Retail Banking Division | Appointed on 7 December 2023 |
Mr. Lai Huu Phuoc | Chair of the Board | Re-appointed on 21 April 2023 | ||
Mrs. La Thi Hong Minh | Member | Resigned on 24 November 20233 | ||
Mrs. Do Thi Mai Huong | Member | Re-appointed on 21 April 2023 | ||
Mrs. Tran My Hanh | Member | Re-appointed on 21 April 2023 |
Mrs. La Thi Hong Minh | Chair of the Board | |
Mr. Le Hoang Tung | Resigned on 15 August 2023 |
Mr. Nguyen Thanh Tung | Since 2 January 2024 Title: Member of the Board of Directors and CEO | |
Mr. Pham Quang Dung | Title: Member of the Board of Directors and CEO Title: Chairman of the Board of Directors (Resigned on 1 January 2024) |
The Board of Management of the Bank is responsible for the consolidated financial statements of each financial year which give a true and fair view of the consolidated financial position of the Bank and its subsidiaries, and of their consolidated results of operations and their consolidated cash flows for the year. In preparing those consolidated financial statements, the Board of Management of the Bank is required to:
- Select suitable accounting policies and then apply them consistently;
- Make judgments and estimates that are reasonable and prudent;
- State whether applicable accounting standards for the Bank and its subsidiaries have been followed, subject to any material departures disclosed and explained in the consolidated financial statements; and
- Prepare the consolidated financial statements on the going concern basis unless it is inappropriate to presume that the Bank and its subsidiaries will continue their business.
The Board of Management of the Bank is responsible for ensuring that proper accounting records are kept which disclose, with reasonable accuracy at any time, the consolidated financial position of the Bank and its subsidiaries and to ensure that the accounting records comply with the applied accounting system. It is also responsible for safeguarding the assets of the Bank and its subsidiaries and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Board of Management of the Bank confirmed that it has complied with the above requirements in preparing the accompanying consolidated financial statements.
The Board of Management of the Bank does hereby state that, in its opinion, the accompanying consolidated financial statements give a true and fair view of the consolidated financial position of the Bank and its subsidiaries as at 31 December 2023, and of the consolidated results of their operations and their consolidated cash flows for the year then ended in accordance with Vietnamese Accounting Standards, Vietnamese Accounting System for Credit Institutions issued by the State Bank of Vietnam and the statutory requirements relevant to the preparation and presentation of the consolidated financial statements.
For and on behalf of the Board of Management of the Bank:
Note: The Shareholders of Joint Stock Commercial Bank for Foreign Trade of Vietnam
We have audited the accompanying consolidated financial statements of Joint Stock Commercial Bank for Foreign Trade of Vietnam (“the Bank”) and its subsidiaries as prepared on 29 March 2024 and set out on pages 6 to 82, which comprise the consolidated statement of financial position as at 31 December 2023, the consolidated income statement and the consolidated cash flow statement for the year then ended and the notes thereto.
The Board of Management’s responsibility
The Board of Management of the Bank is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with Vietnamese Accounting Standards, Vietnamese Accounting System for Credit Institutions issued by the State Bank of Vietnam and the statutory requirements relevant to the preparation and presentation of the consolidated financial statements, and for such internal control as the Board of Management of the Bank determines is necessary to enable the preparation and presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.
Auditors’ responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with Vietnamese Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements of the Bank and its subsidiaries are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the Bank’s preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Bank’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Management of the Bank, as well as evaluating the overall presentation of the consolidated financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion
In our opinion, the consolidated financial statements give a true and fair view, in all material respects, of the consolidated financial position of the Bank and its subsidiaries as at 31 December 2023, and of the consolidated results of their operations and their consolidated cash flows for the year then ended in accordance with Vietnamese Accounting Standards, Vietnamese Accounting System for Credit Institutions issued by the State Bank of Vietnam and the statutory requirements relevant to the preparation and presentation of the consolidated financial statements.
