Vietnamese commercial banks have been seeking capital from overseas for the last two years. VP Bank has consulted with shareholders about a plan to issue and list international bonds. There are two options for the bank. It would issue $1 billion worth of 3-5 year bonds this year and in 2020, or it would issue $120 million worth of 3-year green corporate bonds which will be disbursed to fund green projects. Prior to that, in late September 2018, HD Bank asked for shareholders’ opinions on the plan to issue $300 million convertible 5-year-and-one-day bonds with fixed interest rates to fewer than 100 investors. The dong/dollar exchange rate has stabilized over the last few years with the dong devaluation level not exceedinh more than 2 percent each year. Meanwhile, the banks’ demand for medium- and long-term capital continues to be high, while the domestic capital sources are limited. Not only issuing corporate bonds in foreign currencies, banks have also been seeking capital through commercial loans. LienViet Post Bank in late August 2018 signed a 3-year credit contract valued at $50 million with JP Morgan Chase Bank, N.A Singaporean branch. In September of the same year, SHB borrowed $20 million from IIB… Read full this story
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