Vietcombank, a Vietnamese state-owned commercial lender, is seeking shareholder approval to establish a fully owned banking subsidiary at Vietnam's International Financial Centre, a government-backed project with sites in Ho Chi Minh City and Da Nang, designed to position Vietnam as a hub for cross-border and offshore financial services in Southeast Asia.
The proposal, to be put to the bank's annual general meeting on 24 April 2026, would see Vietcombank hold a 100% stake in the new entity, which would operate within the IFC's distinct regulatory perimeter.
THE INTERNATIONAL FINANCIAL CENTRE
Vietnam's International Financial Centre is a state-backed initiative intended to draw international financial institutions, asset managers, and capital market participants to Ho Chi Minh City and Da Nang. The centre is expected to operate under a legal and regulatory framework that differs in certain respects from Vietnam's standard onshore banking rules, allowing a wider range of financial products and currency transactions to be offered to eligible participants.
Vietcombank's charter capital reached VND 83.56 trillion following a 49.5% bonus share issuance in 2025, and its equity and funds totalled about VND 227.5 trillion at the end of 2025.
NEXT STEPS
Shareholder approval is a prerequisite before Vietcombank can proceed to the regulatory licensing stage with the State Bank of Vietnam and the IFC's governing authority. The bank has not yet disclosed the proposed initial capitalisation level for the subsidiary, and the precise timeline for commencing operations will depend on the outcome of the shareholder vote and the speed of subsequent regulatory reviews and approvals.
Vietcombank is not the first Vietnamese lender to engage with the centre: Nam A Bank, HDBank and Vikki Bank have already received IFC membership certificates, and VietinBank is studying setting up a subsidiary bank there.