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At the 2026 annual general meetings, Vietcombank approved a plan to establish a commercial bank wholly owned by the bank at the Vietnam International Financial Center (VIFC). The new bank is expected to be organized as a single-member limited liability company, with Vietcombank holding 100% of the charter capital, for a term of up to 99 years depending on the license.
Vietcombank projected the initial charter capital at 3,000 billion dong, describing it as comparable to a small market bank. The bank said the capital level reflects an intention to build a specialized financial institution focused on international financial activities from the outset, rather than developing according to the traditional commercial bank model.
The bank is expected to provide core financial services to IFC members, including payment accounts, payment services, and related financial solutions. It will also conduct foreign exchange, guarantees, forfaiting, and letters of credit (L/C) and trade finance, targeting cross-border transactions.
In addition, Vietcombank said the bank aims to serve financial institutions, fintech companies, technology enterprises, and foreign investors participating in the IFC by offering products and services aligned with international practices and the center’s special legal framework.
Vietcombank said that having a 100% owned bank at the IFC would allow it to participate directly in shaping and developing the Vietnam International Financial Center. The bank also expects the move to create another channel to deploy internationally oriented banking activities within the legal framework, strengthening its position and competitiveness in the regional market.
Vietcombank’s plan is part of a broader push by domestic banks to expand into the IFC.
Across the plans, banks cited the intention to leverage VIFC’s special regime to test new financial models, particularly in fintech and cross-border financial services, to expand long-term growth.
For LPBank, the proposal highlights a focus on high value-added areas such as international financial services, asset management, investment advisory, and management and investment in digital assets. The bank said that operating at VIFC is expected to diversify non-traditional revenue streams, improve competitiveness, and broaden long-term fundraising from international strategic partners with optimized costs.
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