IFC increases VPBank’s financing package to USD 200 million
IFC, a member of the World Bank Group has recently approved an additional financing package of more than USD 80 million for VPBank, which increases the total financing package to more than USD 200 million. This is the biggest financing package that IFC has offered to a joint stock commercial bank over the past 2 years.
IFC, a member of the World Bank Group has recently approved an additional financing package of more than USD 80 million for VPBank, which increases the total financing package to more than USD 200 million. This is the biggest financing package that IFC has offered to a joint stock commercial bank over the past 2 years.  
This financing package comprises USD 58 million syndication loan of 5 year loan tenor and a trade guarantee lines of up to USD 25 million. Previously, in August, 2016, IFC, Cathay United and ICBC provided VPBank a financing package of USD 125 million. The new syndication loan will help VPBank continue to expand lending to micro, small, and medium enterprises (MSMEs), especially for womn-owned enterprises and boost international trade opportunities.
MSMEs, which accounts for 90% of total Vietnamese enterprises, play an important role in the economy. However, many of them are meeting difficulties in access to financial sources. Therefore, the financing package of IFC will be a great support for MSMEs.
In fact, after receiving the first financing package from IFC, VPBank showed that the package was used effectively. For example, the financing package of USD 25 million was used up within three months after disbursements. Additionally, VPBank’s credit programs are supporting projects which commit to protect environment, promote social welfare, etc.  
“We are glad to continue working with IFC to provide financial support for enterprises. The decision of IFC shows the reliance of IFC on VPBank’s contribution to the development of Vietnamese business community, especially MSMEs,” CEO Nguyen Duc Vinh shared.
IFC is the largest global development institution focused on the private sector in emerging markets. As the most prestige financial institution in the world, IFC has strict underwriting rules on the basis of comprehensive evaluation on partner’s business administration, strategy, financial situation and socio-environmental commitment. Thus, with this new commitment with VPBank, IFC acknowledged VPBank as an effective and transparent bank in Vietnam.
According to 2016 Consolidated Financial Statements of VPBank. VPBank’s total assets reached nearly VND 226 trillion, increasing by 16.5% from VND 194 trillion in 2015. Consolidated profit before tax reached VND 4,900 billion. Profit of the bank alone was VND 3,400 billion. This business results make VPBank the most effective joint stock commercial bank in the past year. Especially, VPBank is also one of the leading banks in providing credit to MSMEs.
About VPBank
VPBank was founded in 1993, aiming at providing banking products and services to all customers, while focusing on retail banking and SME segments. As of December 31st, 2016, the Bank has a country-wide footprint of operations with 214 branches and transaction offices, 64 SME centers. In 2016, VPBank received 9 prestigious awards, including “Best Commercial Bank of the Year”, “SME Bank of the Year”, “Best Mobile Banking Vietnam 2016”, “Bank with Best Service Quality 2016”, “Best Banking Initiative for Self-Employed Customers 2016”, “Viet Nam Outstanding E-banking Award 2016”, “Viet Nam Outstanding Bank for SMEs 2016”, “Vietnam’s Credit Card Initiative of the Year”. VPBank is the 26th most valuable brand of Vietnam and 7th most valuable brand in the banking sector.
For further information, Please contact us at: 1900 545 415 or 04 3928 8880 or Website: https://www.vpbank.com.vn/



 
Chat với VPBank