Vietnam’s Vietcombank takes full ownership of landmark tower in Ho Chi Minh City

Vietcombank-Bonday-Benthanh (VBB) Tower is a Grade A+ office building with four street frontages in downtown Ho Chi Minh City. 

According to updated business registration records, the joint venture behind the building has been converted into Vietcombank-Bonday-Benthanh Co., Ltd., with charter capital of more than VND789 billion (US$30 million), fully owned by Vietcombank.

Vietcombank’s deputy CEO Phung Nguyen Hai Yen is listed as the company’s legal representative.

Previously, the venture was jointly owned by Vietcombank with a 52-percent stake, Hong Kong-based Bonday Investments with a 30-percent stake, and Setra Corp with the remaining 18-percent.

Vietcombank’s consolidated financial report for the first quarter of 2026 showed the lender’s investment in the company rose from VND410 billion ($15.6 million) to VND1.612 trillion ($61.4 million) after acquiring Setra’s 18-percent stake in February, raising the bank’s ownership to 70 percent.

In the second quarter this year, Bonday Investments exited the partnership, selling its 30-percent stake to Vietcombank.

Based on the valuation of the earlier Setra deal, the Bonday stake was estimated at approximately VND2.004 trillion ($76.3 million), putting the total value of the company at around VND6.679 trillion ($254 million).

The key asset is Vietcombank Tower, located at 5 Me Linh Square in Saigon Ward, Ho Chi Minh City.

The tower boasts four street frontages, panoramic views of the Thu Thiem urban area, and proximity to Bach Dang Wharf and the city’s administrative center.

The building’s official website confirms it is now fully managed and owned by Vietcombank.