IFC proposes $60 million global trade finance for Maritime Bank

According to IFC's disclosure on April 15, the proposed investment in MSB is a Global Trade Finance Program (GTFP) with an initial limit of $60 million for a tenor of up to 12 months.

The GTFP facility will assist MSB in broadening its client base by supporting its trade finance operations, financing a larger number of importers and exporters, including small and medium-sized enterprises. Additionally, it will strengthen the bank's connections with a global network of correspondent banks and markets.

In emerging countries, such as Vietnam, GTFP builds, protects, and deepens trade finance networks by continually enabling individual trade transactions, which slowly builds resilience of trade networks, trade, and income to these economies.

IFC’s guarantees are especially critical to support trade for low-income countries, where the risks are perceived to be high. Additionally, IFC’s presence as a provider of guarantees will help MSB to connect with new banks, maintain and strengthen their existing network of correspondent banks, and gain trade finance experience.

In February 2025, IFC signed with MSB an advisory agreement which IFC support MSB in building a Sustainable Finance Framework and the capacity of its staff in connection with the framework.

Established in 1991, MSB is a Hanoi-headquartered commercial bank operating nationwide in Vietnam. As of December 31, 2024, MSB had total assets of $12.2 billion. MSB is listed on the Ho Chi Minh Stock Exchange with a market capitalisation of approximately $1.2 billion as of March 13, 2025.

The shareholder structure of the bank, as of December 31, 2024, is constituted of 70 per cent domestic investors, including Vietnam Posts and Telecommunication Group, which owns 6.05 per cent, and 30 per cent foreign investors.

The private sector investment arm of the World Bank Group, International Finance Corporation (IFC), is considering a five-year convertible bond of up to VND500 billion ($19.8 million) to support VETC JSC's expansion.

Vietnam Maritime Commercial Joint Stock Bank and Proparco, a development finance institution partly owned by the French Development Agency, inked a loan cooperation agreement worth $30 million with a 5-year term on December 16. This agreement is set to support financial resources for Vietnam's green projects.

Vietnam Maritime Commercial Joint Stock Bank (MSB) solidified its commitment to sustainable finance by signing an MoU on November 2 with the Dutch Entrepreneurial Development Bank (FMO). The agreement marks a strategic partnership for mid to long-term collaboration, aiming to amplify MSB's sustainable lending practices.