Banks ramp up plans to establish VIFC subsidiaries

Photo: Le Toan

HDBank has submitted to shareholders a proposal to establish a wholly owned commercial bank operating under a single-member limited liability structure at the VIFC, with all its charter capital owned by HDBank.

The subsidiary bank is expected to be headquartered at the centre, operating independently in terms of legal status and financial management while complying with regulations set by the State Bank of Vietnam.

The move aims to expand HDBank’s operational network and increase brand awareness in the local and foreign markets. The subsidiary bank also serves as a channel to build an ecosystem of finance, technology, and intermediaries to connect with financial institutions and international investors, which is in line with HDBank's development in the next phase.

This comes as HDBank continues to consolidate its ecosystem, including increasing its ownership in HD SAISON from 50 to 75 per cent and acquiring full ownership of Vikki Bank.

Likewise, Nam A Bank presented to shareholders the plan to establish a wholly owned single-member limited liability commercial bank at VIFC at the AGM on March 20.

The subsidiary bank will help Nam A Bank implement its long-term development strategy and expand its international financial operations. Simultaneously, it will leverage tax incentives, legal advantages, and specific operating conditions at VIFC to optimise business efficiency, increase competitiveness, and strengthen the bank's position in both domestic and international markets.

Tran Khai Hoan, acting general director of Nam A Bank said, “With the plan, the bank aims to increase access to international capital, while diversifying financial products and services to meet the cross-border transaction needs of businesses and individuals.”

In addition, other commercial banks are also developing plans to participate in VIFC. They will seek shareholders’ approval during this year's AGMs.

According to the documents for the 2026 AGM, Vietcombank also plans to present to shareholders a proposal to establish a subsidiary bank at VIFC. Under the plan, this entity will help the bank expand its scale and access higher international standards in governance, products, and risk management.

VietinBank is also studying options for establishing a subsidiary bank or suitable legal entity to operate within VIFC. Its strategy includes expansion into fintech and digital assets, with plans to collaborate with startups within the ecosystem of its strategic shareholder, Japan’s MUFG Financial Group, to develop payment, lending, and insurance services in 2026–2027. The bank also aims to position itself as a payment intermediary in the digital asset sector when regulatory approval is granted.

VIFC is attracting strong interest from the Vietnamese financial system. In Danang, authorities have approved 11 institutions to participate in the centre, including five banks.

VIFC-HCMC is expected to cover about 898 hectares, including areas in Sai Gon Ward, Ben Thanh Ward and the Thu Thiem urban area in An Khanh Ward.

Its founding members include lenders such as MB, TPBank, SHB, HDBank, and Nam A Bank. UOB is expected to soon break ground on its new headquarters at VIFC-HCMC, marking the first foreign bank to establish a presence at the complex.

The participation and expansion of domestic financial institutions at the VIFC are expected to contribute to building a modern financial ecosystem and enhancing connectivity with regional and global markets.

VIFC in Ho Chi Minh City officially launches The Vietnam International Financial Centre in Ho Chi Minh City has been launched, marking a step towards deeper global financial integration. The initiative aims to strengthen capital market development and support economic growth.

Nam A Bank forms position as strategic member at VIFC through three key partnerships After becoming a strategic investor in Vietnam's International Financial Centre, Nam A Commercial Joint Stock Bank has implemented a series of strategic partnership agreements to deploy practical solutions as part of its commitment to building a green, modern, and integrated financial centre.

Academic-policy network planned to support VIFC development Vietnam is working to establish a nationally recognised academic-policy forum in finance, aimed at strengthening policy advisory capacity and supporting the development of its International Financial Centre.