Banks strengthen their presence in Vietnam International Financial Center
A growing number of commercial banks are setting up shop in the Vietnam International Financial Center (VIFC), seeking to take advantage of preferential mechanisms, expand their operations, attract foreign capital and strengthen their competitiveness amid intensive global integration.
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| The Vietnam International Financial Center Ho Chi Minh City (VIFC-HCMC) was officially launched on February 11, 2026. |
| Photo : VNA/CVN |
This trend is confirmed as banks announce their intention to join the center. At its 2026 annual general meeting, Nam A Joint Stock Commercial Bank (Nam A Bank) obtained shareholder approval for the establishment of a 100% Vietnamese-owned, single-member limited liability commercial bank operating within VIFC.
This entity is expected to support Nam A Bank’s long-term strategy to grow its international financial activities, while leveraging the tax, legal and operational advantages of the center to improve its efficiency and competitiveness. The bank also aims to facilitate access to international capital and diversify its products and services in order to meet the growing demand for cross-border transactions, both from businesses and individuals.
Previously, on February 11, 2026, VIFC Ho Chi Minh City (VIFC-HCMC) was officially launched, with Nam A Bank recognized as one of its strategic members.
Interest in VIFC is spreading throughout the banking system. Several other commercial banks are preparing participation plans which will be submitted for shareholder approval at their annual general meeting.
The Vietnam Foreign Trade Joint Stock Commercial Bank (Vietcombank) plans to apply for permission to establish a subsidiary from the VIFC. This new entity should make it possible to expand its activities while aligning the bank with the most demanding international standards in terms of governance, products and risk management.
Vietcombank also plans to increase its registered capital to strengthen its financial capacity, especially to expand in complex areas such as cross-border finance, investment banking and digital asset services.
Similarly, the Vietnam Joint Stock Commercial Bank of Industry and Commerce (VietinBank) is exploring the possibility of establishing a suitable subsidiary or legal entity to operate within the VIFC. Its strategy includes expansion in the fintech and digital assets sectors, with a plan to collaborate with startups from the ecosystem of its strategic shareholder, the Japanese financial group MUFG, to develop payment, credit and insurance services between 2026 and 2027. VietinBank also aims to position itself as a payment intermediary in the digital assets sector upon obtaining regulatory authorizations.
Meanwhile, Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) has consulted with its shareholders to relocate its headquarters to the Saigon Marina International Financial Center Tower, in line with its expansion strategy and new development phase.
Beyond individual banks, the VIFC is attracting keen interest within the Vietnamese financial system. In Da Nang, 11 institutions, including five banks, have been approved to participate, while the list of founding members of VIFC-HCMC includes several banks such as MB, TPBank, SHB, HDBank and Nam A Bank.
In accordance with current regulations, eligible Vietnamese commercial banks can join the VIFC as members, under a single-member limited liability company model 100% owned by Vietnamese.
Nguyên Duc Lênh, Deputy Director of Regional Branch 2 of the State Bank of Vietnam (BEV), said that participation in VIFC will enable banks to expand their services, improve their reputation and brand image, and contribute to the development of this international financial center.
He highlighted that the VIFC is focused on sustainable finance and specialized sectors, thereby creating new growth prospects for banks. Priority areas include green finance, carbon credit markets, issuance and trading of green debt and equity instruments, and financial services supporting tourism and sustainable infrastructure. Insurance, reinsurance, international brokerage, maritime financing, commodity derivatives and advisory services in law, asset management and investment funds are also encouraged.
The financial expert, the Dr Nguyen Tri Hieu said banks operating within the center should adopt a “one-stop shop” model, offering integrated financial services to a diverse clientele, ranging from domestic and international investors to individuals and businesses. This requires strong expertise in services such as payments, remittances, international trade finance and international instruments such as letters of credit, as well as in-depth knowledge of global financial institutions.
Experts view VIFC as a major capital platform where banks play the role of modern financial intermediaries, facilitating capital flows and optimizing resource allocation. In the long term, through harmonious development of institutions, infrastructure and human resources, the VIFC is expected to become both a preferred destination for international capital and a springboard for further integration of the Vietnamese banking system into regional and international financial value chains.
VNA/CVN
