Vietnam

The International Finance Corporation has signed a VND320bn (US$20m) credit contract with Viet Nam Technological and Commercial Joint Stock Bank to improve bank loan access for Vietnamese SMEs.

The Maritime Bank began implementing export factoring services for enterprises last week under an agreement by the State Bank of Vietnam.

The State Bank of Viet Nam has allowed the Maritime Bank (MB) to implement an export factoring service.

Maritime Bank has been permitted by the central bank to launch a factoring unit.

SMFG is considering a 15% investment in Vietnam's state-owned export bank, in a bid to expand in the Asian region.

Sacombank has become the first commercial bank of Vietnam to have a representative office abroad.

The State Bank of Vietnam has given the go ahead to the Southeast Asia Commercial Joint Stock Bank to provide factoring services.

The Vietnam Export-Import Commercial Bank is expected to sign an agreement with the International Finance Corporation to join IFC's global trade finance network.

The Saigon Commercial Bank has been authorised to provide factoring services.