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Vietnam International Commercial Joint Stock Bank (VIB) Fair Value & Analysis

Financial Services · VN · Market cap 51.9T VND

VI Vietnam International Commercial Joint Stock Bank VIB · VN
Price14,650 VND
Fair Value30,900 VND
Upside+110.9%
Quality57/100
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Mixed Growth
Highly profitable · 41.5% net margin
generates free cash flow
Ranks above peers (10/12)
Wide moat 71/100
Evidence: High Range 23,175 VND – 38,625 VND Share as image

Fair value as of: Jul 16, 2026

From 6 valuation models · updated 24 days ago

Fair value updated Jul 16, 2026, revised from 32,000 VND to 30,900 VND (−3.4%) since Jun 26, 2026. Share price −9.8% over the past month.

A solid business, screening 111% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (23,175 VND). The market is more pessimistic than our downside scenario.
  • Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

22,376 VND 8,550 VND Fair Value 30,900 VND Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 8,550 VND – 22,376 VND · fair‑value band 23,175 VND – 38,625 VND · the 14,650 VND price screens below the 30,900 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

Full chart & analysis →

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Analysis

Vietnam International Commercial Joint Stock Bank (VIB) currently trades at 14,650 VND, while our model-based Fair Value estimate is 30,900 VND, implying the stock looks roughly 110.9% undervalued today. The Quality Score stands at 57/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Vietnam International Commercial Joint Stock Bank generated revenue of 18.3T VND at a net margin of 41.5%. Revenue grew 44.6% year over year. It earns a return on equity of 16.4%. Net debt stands at 2.6T VND. Fundamentals as of Jul 16, 2026

Our scenario range runs from 23,175 VND (bear case) to 38,625 VND (bull case); at 14,650 VND, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 38% below its 52-week high, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 111%, VIB screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income 14,741 VND 19,361 VND 58,470 VND 76
Gordon GGM 5,893 VND 6,785 VND 7,902 VND 70
P/E Multiple 20,867 VND 27,823 VND 34,779 VND 63
All 6 models by family
Dividend Discount
Gordon GGM 5,893 VND 6,785 VND 7,902 VND 70
DDM Multi-Stage 5,893 VND 7,815 VND 10,398 VND 61
Multiples
P/E Multiple 20,867 VND 27,823 VND 34,779 VND 63
P/B Multiple 14,468 VND 19,291 VND 24,114 VND 55
Asset-Based
NCAV (Graham) 6,890 VND 9,232 VND 13,779 VND 50
Economic Profit
Residual Income 14,741 VND 19,361 VND 58,470 VND 76

Widest divergence: Economic Profit (19,361 VND) versus Dividend Discount (6,785 VND). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 18.3T VND
Revenue growth (YoY) +44.6%
Net margin 41.5%
Return on equity 16.4%
Free cash flow 12.7T VND FY2025
P/E ratio 6.8
More key figures
Operating margin 51.1%
EPS (TTM) 2,229 VND
EPS growth (YoY) +15.7%
Net debt 2.6T VND FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 55 · Market factors (momentum, volatility) 38

Profitability 47
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 96
Earnings quality: real cash, not paper profit
Fin. Strength 43
Balance sheet, leverage, solvency risk
Investment 49
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 55
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Vietnam International Commercial Joint Stock Bank provides various banking products and services to organizations and individuals primarily in Vietnam.

Full company description

Vietnam International Commercial Joint Stock Bank provides various banking products and services to organizations and individuals primarily in Vietnam. It offers current, business, and digi accounts; term, foreign term, and flexi deposits; savings; mortgage, new and used auto purchase, apartment, home refinancing, unsecured personal, working capital, and business investment loans; and short, medium, and long-term loans. The company also provides treasury and insurance products; credit and debit cards; derivatives; and transaction banking, cash flow management, funds, lending, bank guarantee, and trade finance services. In addition, it offers supply chain finance, collection, payment, liquidity management, forex, and ATM; and mobile, digital, and other banking services. Vietnam International Commercial Joint Stock Bank was founded in 1996 and is headquartered in Ho Chi Minh City, Vietnam.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Vietnam International Commercial Joint Stock Bank reported revenue of 18.3T VND in FY2025 versus 14.7T VND in FY2021, a compound +5.6%/yr. Reported net income was 7.3T VND in FY2025, compounding +3.3%/yr from FY2021.

Growth Quality 86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
18.3T VND
Latest YoY
−5.7%
Avg. growth/yr (3Y)
+1.1%
Avg. growth/yr (5Y)
+10.6%
Revenue +5.6%/yr
FY21 14.7T VND
FY22 17.7T VND
FY23 21.5T VND
FY24 19.3T VND
FY25 18.3T VND
Net income +3.3%/yr
FY21 6.4T VND
FY22 8.5T VND
FY23 8.6T VND
FY24 7.2T VND
FY25 7.3T VND

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Cite: Fair Value Calculator (2026). "Vietnam International Commercial Joint Stock Bank Fair Value". https://www.fairvalue-calculator.com/stock/VIB

Peer Group

Banks - Regional · 1083 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 56 · Above median
Fair Value upside +111% · Top 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 1% · Top 25%
Net margin (TTM) 42% · Top 25%
Operating margin (TTM) 51% · Top 25%
Revenue growth 45% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 6.8× · Cheaper than 75% of peers
P/B 1.11× · Pricier than median
P/S (TTM) 2.84× · Cheaper than median
P/FCF 0.0× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 39
FUTURE 100 · sector 44
PAST 65 · sector 41
HEALTH 0 · sector 85
DIVIDEND 0 · sector 49

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
PT Bank Central Asia Tbk BBCA 6,175 IDR 6,087 IDR -1%
KB Financial Group 105560 184,400 KRW 213,797 KRW +16%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI 2,970 IDR 4,891 IDR +65%
PT Bank Mandiri (Persero) Tbk BMRI 4,310 IDR 7,841 IDR +82%
Banco Bradesco S.A BBD 5,120 ARS 10,240 ARS +100%
Shinhan Financial Group 055550 107,900 KRW 137,259 KRW +27%
Hana Financial Group 086790 136,800 KRW 193,969 KRW +42%
Lloyds Banking Group LYG 4,138 ARS 8,275 ARS +100%
Banco de Chile, CHILE 193.10 CLP 152.55 CLP -21%
Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB 59,400 VND 84,201 VND +42%

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Frequently asked questions

Is Vietnam International Commercial Joint Stock Bank (VIB) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 30,900 VND versus a price of 14,650 VND, about +111% (undervalued).
What is the fair value of VIB?
Our model-based fair value for Vietnam International Commercial Joint Stock Bank is 30,900 VND (as of Jul 16, 2026), built from audited fundamentals. The current price is 14,650 VND.
What is the quality score of VIB?
Vietnam International Commercial Joint Stock Bank has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Vietnam International Commercial Joint Stock Bank (VIB)?
Vietnam International Commercial Joint Stock Bank reported trailing-twelve-month revenue of about 18.3T VND (latest available figure, as of Jul 16, 2026).
What is the net profit margin of VIB?
The net profit margin of Vietnam International Commercial Joint Stock Bank is about 41.5%, meaning it keeps roughly 41.5% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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