VIB Senior Loan (IFC-40089)

Countries
  • Vietnam
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
VIETNAM INTERNATIONAL COMMERCIAL JOINT STOCK BANK
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 17, 2019

Disclosed by Bank Sep 8, 2017


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Project Description

International Finance Corporation (IFC) is considering an investment in the form of senior loan of up to US$200 million, consisting of an anchor-level A Loan and a B Loan and/or Parallel Loan to Vietnam International Commercial Joint Stock Bank (VIB or the Bank). Through the investment, IFC will support VIB’s growth of its small and medium enterprises (SMEs), micro SMEs and affordable housing loan portfolio, which in turn increase financial inclusion, create jobs and reduce poverty in Vietnam.



Investment Description
  • International Finance Corporation (IFC)

Vietnam International Commercial Joint Stock Bank, abbreviated as Vietnam International Bank (VIB), was founded on 18th September, 1996 with its head office based at 16 Phan Chu Trinh, Hoan Kiem District, Hanoi. As of June 30, 2017, the Bank had 160 branches and transaction offices in Vietnam. The Bank provides to both corporate and retail clients through those branches and transaction offices. The current main shareholders of VIB are:
(i) Commonwealth Bank of Australia (CBA) with a 20% shareholding,
(ii) 10 institutional investors with a 4.2% shareholding, and
(iii) 1,305 individual investors with a 75.8% shareholding.
The total project cost is estimated at up to US$200 million. The project aims to support the Bank’s lending to SMEs, micro SMEs and affordable housing.

Contact Information

1/The Project Contact
Vietnam International Commercial Joint Stock Bank
Mr. Han Ngoc Vu
Chief Executive Officer
+84 24 62760068
thuy.ngothu@vib.com.vn
Floor 7, ConerStone Building, 16 Phan Chu Trinh Street, Hanoi, Vietnam
www.vib.com.vn

2/IFC Contact
General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/