The International Finance Corporation (IFC) currently hold 10% stake in An Binh Commercial Joint Stock Bank (ABBank), one of the banks having stable and sustainable development.
According to Deal Street Asia, a website covering financial investment news, IFC proposed investing US$150 million in ABBank to expand its banking services towards small and medium sized businesses.
The proposal includes commitments of a US$40 million direct loan (A loan) and a US$60 million syndicated loan (B loan), in addition to another US$50 million suggested to invest to ABBank.
Earlier in 2011, IFC provided a US$40.5 million conversion loan to this bank and successfully converted it into a 10% stake.
Maybank, a Malaysian bank, currently holds 20% stake of ABBank which is the maximum that an institution can hold in a Vietnamese bank.
The other shareholder of this bank is an Hanoi Export-Import Joint stock Company namely Geleximco who holds 13% stake.
This financing is expected to increase the possibility of accessing to financial services of Micro, Small & Medium Enterprises (MSMEs) in Vietnam.
Recently, VPBank also announced to convert IFC’s US$57 loan into a 5% stake. Its strategy to focus on individual (or retail sales) and small and medium enterprises (SME) has gained a lot of positive achievements.
In Vietnam, since 2016, IFC also holds 5% stake of TPBank. Earlier in 2011, this organisation invested US$300 million in Vietinbank to hold 10% stake which has been reduced to 8% so far.
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The United Capital Management Joint Stock Company (Unicap) which manages investment funds will provide financial services to FLC and Faros in the near future.
Techcombank has announced that two separate legal entities managed by Warburg Pincus will invest over US$370 million into the Bank, subject to appropriate regulatory approvals.
In only the first two months of this year, the banking, financial services and insurance sector (BFSI) of Vietnam received up to US$1.45 billion worth of investment.
It is feared that the escalating trend of trade protectionism will hinder global growth and make many businesses struggle for survival.
According to the World Bank, remittances to Vietnam in 2017 are estimated at a record high of US$13.81 billion, increasing by US$1.9 billion, equivalent to 16% over 2016.
Within less than five months leading the Southeast Asia Joint Stock Commercial Bank (SeABank), Nguyen Canh Vinh has resigned from this position since February 8, 2018, for personal reason.
