According to IFC website, IFC is considering an investment in the form of senior loans of up to US$150 million, consisting of (i) an A Loan of up to US$40 million; and (ii) a B Loan and/or Parallel Loan of up to US$60 million with a greenshoe option of up to US$50 million to An Binh Commercial Joint Stock Bank Through the investment, IFC will support the Bank's growth strategy to expand its financial products and services to small and medium enterprise (SME) and micro SME borrowers, including women-owned SMEs, which will in turn increase financial inclusion, create jobs and reduce poverty in Vietnam. This project will be potentially supported by IFC's Women Entrepreneur Opportunity Facility (WEOF).
The project aims to support the Bank's lending programs to MSMEs and SMEs, especially women-owned SMEs.
ABBank was established in the early 1990s as a rural commercial bank and was transformed into an urban commercial bank in August 2005. The Bank provides a wide range of banking products and services to both corporate and retail clients. As of December 31, 2016, ABBank expanded its geography coverage to 159 branches and transaction offices nationwide. The current main shareholders of ABBank are: (i) Malayan Banking Berhah (Maybank) with a 20% shareholding; (ii) Hanoi General Export Import Corporation (Geleximco) with a 12.99% shareholding; (iii) IFC with a 10% shareholding, and (iv) institutional and individual investors with a 57.01% shareholding.
Nguyen Manh Quan
Deputy CEO, An Binh Commercial Joint Stock Bank
Phone Number: 84.8.38244855
Email Address: email@example.com
170 Hai Ba Trung, Da Kao, District 1, Ho Chi Minh City, Vietnam
ACCOUNTABILITY MECHANISM OF IFC
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