Vietnam Banks Sign VND 230 Trillion Credit Deals at HCMC Conference

Overview

At a conference co-hosted by the State Bank of Vietnam (SBV) and the Hồ Chí Minh City People’s Committee on 23 October 2026, Vietnamese commercial banks signed 20 cooperation agreements worth approximately VND 230 trillion (about USD 9.2 billion) to finance businesses and projects. Vietcombank (VCB, HOSE) was among the lead signatories, alongside VietinBank, BIDV, Agribank, MB, HDBank and ACB. The commitments span manufacturing, energy, pharmaceuticals, transport infrastructure, industrial parks and social housing, and are framed as part of a broader push to channel bank credit into growth-driving projects in the Southeast region through 2030.

Key Facts

• Total value of the 20 cooperation agreements: approximately VND 230 trillion, or roughly USD 9.2 billion, per the conference announcement.
• Vietcombank signed four agreements; VietinBank, BIDV, Agribank, MBBank and NCB each signed two; ACB signed one; HDBank and Vikki Bank together signed five.
• BIDV and VietinBank co-financed a USD 2.8 billion EPIC 1 package for PTSC Marine Mechanical Services, tied to the Maydan Mahzam field redevelopment.
• Vietcombank agreed to fund Becamex’s Việt Sing Zone 2 and Zone 7 social housing projects with VND 1,113 billion.
• ACB committed VND 500 billion to Trung ương 2 Medicinal Materials JSC for pharmaceutical production and trading.
• HDBank and Vikki Bank co-financed the VIFC-HCMC flagship project cluster, involving REE, HFIC, Sovico and VinaCapital Holdings, with VND 50,000 billion.
• Agribank agreed VND 4,867 billion for the Sài Gòn River–Thầy Cai canal expressway section under the Hồ Chí Minh City Ring Road 4 project.

What Happened

The agreements were signed at the conference titled “Ngành Ngân hàng đồng hành khơi thông nguồn lực Tài chính – Ngân hàng phục vụ tăng trưởng vùng Đông Nam bộ giai đoạn 2026 – 2030”, organised by the SBV and the Hồ Chí Minh City People’s Committee. The event brought together commercial banks and corporate borrowers to formalise credit commitments across a range of sectors, with the SBV positioning the deals as a mechanism to unlock financial resources for regional growth. The article, published by An ninh tiền tệ, lists the participating banks and the value of each agreement but does not disclose individual loan terms, tenors or interest rates.

The largest single commitment is the USD 2.8 billion co-financing by BIDV and VietinBank for PTSC Marine Mechanical Services, supporting the EPIC 1 package within the Maydan Mahzam field redevelopment. Vietcombank’s four agreements include VND 1,113 billion for Becamex’s social housing projects in the Việt Sing urban area. ACB’s VND 500 billion facility for Trung ương 2 Medicinal Materials targets pharmaceutical production. HDBank and Vikki Bank’s VND 50,000 billion co-financing for the VIFC-HCMC project cluster involves a consortium of REE, HFIC, Sovico and VinaCapital Holdings. Agribank’s VND 4,867 billion commitment covers a section of the Hồ Chí Minh City Ring Road 4 expressway.

Market Context

Vietcombank (VCB) closed at VND 56,800 on 24 October 2026 on HOSE, while BIDV (BID) closed at VND 34,250, VietinBank (CTG) at VND 30,950 and Military Commercial Joint Stock Bank (MBB) at VND 19,800. The agreements arrive as Vietnamese banks continue to expand credit into infrastructure, energy and housing projects, aligned with the government’s push to sustain GDP growth through public and private investment. The conference’s focus on the Southeast region through 2030 signals a multi-year credit pipeline rather than one-off lending, though the article does not specify disbursement schedules.

Strategic Significance

For long-term investors, the deals reinforce the role of state-owned and large private banks as primary conduits for policy-driven credit allocation. Vietcombank’s participation in social housing and its co-financing role alongside VietinBank in the USD 2.8 billion PTSC package highlight its exposure to both domestic housing policy and offshore energy services. The inclusion of REE in the VIFC-HCMC consortium links a listed industrial and real estate group to a VND 50,000 billion urban project, potentially expanding its development pipeline. The breadth of sectors covered — from pharma to transport infrastructure — suggests banks are diversifying credit books beyond traditional real estate, though execution and disbursement risk remain unaddressed in the announcement.

What to Watch

• Disbursement timelines and loan terms for the VND 230 trillion in agreements, which the article does not disclose.
• Vietcombank’s Q3 2026 earnings release and credit growth guidance for the remainder of the year.
• Further details on the VIFC-HCMC project cluster and REE’s capital contribution structure.
• SBV credit growth targets and any policy rate adjustments at upcoming meetings.
• Progress on the Hồ Chí Minh City Ring Road 4 and Becamex social housing projects, which could affect construction and materials demand.