HDSaison Senior Loan (IFC-49426)

Countries
  • Vietnam
Geographic location 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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 2, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
HD Saison Finance Co., Ltd.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 15, 2025

Disclosed by Bank Feb 10, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the proposed investment consists of a IFC’s 3-year senior loan of up to US$50 million to HD Saison Finance Company Limited, the 4th largest retail finance company in Viet Nam. The IFC's funding will support HDSaison in providing green and productive micro loans to low-income individuals across Viet Nam. At least 50% of the funds will be specifically allocated for green sub-loans, which can be used to purchase electric two-wheel vehicles and energy-efficient consumer durables that meet IFC’s criteria. The remaining of IFC’s funding will be used to support sub-loans for two-wheel vehicles, which are essential for daily business transportation or employment.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The proposed project entails a senior loan facility to support HD Saison Finance Company Limited (HDSaison) in expanding its lending for green consumer products and two-wheel vehicles. HDSaison is a retail financial company in Vietnam that provides loans to individuals. The project is expected to have low environmental and social (E&S) risks and is therefore categorized as an FI-3 project according to the IFC's Environmental and Social Sustainability Policy. 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The proposed investment consists of a IFC’s 3-year senior loan of US$50 million to HD Saison Finance Company Limited.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

HD Saison Finance Company Limited is the 4th largest retail finance company in Viet Nam, and is predominantly owned by two esteemed sponsors: Ho Chi Minh Development Joint Stock Bank (HDBank), Viet Nam’s seventh-largest private bank and an existing IFC client, and Credit Saison Limited Company, Japan's third largest credit card issuer with assets totalling $28.1 billion as of September 2024.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

HD SAISON Finance Limited Company
Mr. Nguyen Huu Nhan
CEO
Nguyen.huu-nhan@hdsaison.com.vn
Gilimex Tower, 24C Phan Dang Luu, Ward 6, Binh Thanh District, Ho Chi Minh City, Viet Nam
www.hdsaison.com.vn

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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

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How it works