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According to the bank's website, "the proposed project entails an investment of up to US$95 million by IFC and IFC Asset Management Company (AMC) in a five-year and 1 day Basel II compliant US$ denominated Convertible Tier II Bond issued by Ho Chi Minh City Development Joint Stock Commercial Bank (‘HDBank’ or the ‘Bank’). The investment is aimed at strengthening the Bank’s capital and support increased lending to retail and SME segments including women-owned SMEs (WSMEs)."
The project is expected to (i) increase access to finance for individuals and SMEs, including WSMEs through both traditional banking and digital platforms and (ii) contribute to market resilience in the Vietnam banking sector by sending a positive signal and boosting investor confidence thus enabling local banks to attract investment needed to build their capital positions and sustain their growth.
The Bank is targeting to raise up to US$200 million through this privately placed issuance with the balance expected to be raised from international investors. The investment is aimed at strengthening the Bank’s capital and support increased lending to retail and SME segments including women-owned SMEs (WSMEs).
Mr. Pham Quoc Thanh
Chief Executive Officer, Ho Chi Minh City Development Joint Stock Commercial Bank
+84903699990
thanh.pq@hdbank.com.vn
25Bis Nguyen Thi Minh Khai, District I, City. Ho Chi Minh
https://www.hdbank.com.vn/en/
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