Domestic commercial banks participating in Việt Nam’s International Financial Centre in HCM City (VIFC–HCMC) are positioning themselves as strategic players in key segments of the emerging financial ecosystem.
Beyond their roles as founding members and investors, banks are focusing on critical areas such as payment infrastructure, digital banking and green finance – sectors widely viewed as new growth engines for Việt Nam’s capital markets.
The Việt Nam International Financial Centre building at 8 Nguyễn Huệ Street, Sài Gòn Ward, HCM City. — Photo cafef.vn
Among the 13 founding members and strategic investors announced at the centre’s launch ceremony on February 11 were five domestic lenders: Military Commercial Joint Stock Bank (MB), Tiên Phong Commercial Joint Stock Bank (TPBank), Saigon–Hanoi Commercial Joint Stock Bank (SHB), Nam Á Commercial Joint Stock Bank (Nam A Bank) and HCM City Development Commercial Joint Stock Bank (HDBank), part of the Sovico Group ecosystem.
The notable representation of banks within the VIFC–HCMC membership structure underscores the central role of the money market in any international financial centre model.
Market observers say the presence of banks provides a crucial foundation for building financial infrastructure, developing specialised products and ensuring the safe, stable operation of the centre.
This orientation aligns with the VIFC–HCMC’s multi-pillar development framework, which encompasses aviation and maritime finance, a commodity exchange, high-tech custody and clearing systems, a fintech and digital banking ecosystem, and a green finance value chain.
Within this structure, banks are expected to move beyond their traditional credit-supply function to take on broader responsibilities in market infrastructure and advanced financial services.
Lưu Trung Thái, chairman of MB, said the bank would focus on four strategic areas as part of its participation in the VIFC–HCMC.
Foremost among them is the development of modern financial and banking products tailored to the needs of investors and enterprises operating in an international financial environment.
In parallel, MB plans to contribute to the construction and operation of advanced payment infrastructure, including bilateral and multilateral payment mechanisms and interbank connectivity in line with international standards.
The bank also aims to engage in the development of new market platforms such as a commodity exchange and multi-asset centralised custody and clearing systems.
In addition, MB will invest in core technology platforms, including digital identity, cybersecurity, data governance and risk management frameworks, to help ensure that financial activities within the centre operate in a safe, transparent and efficient manner.
“In the long term, MB is prepared to study the possibility of establishing a specialised operational presence at the centre to provide financial services directly, subject to full compliance with legal and regulatory requirements,” Thái said.
Among the strategic investors, Nam Á Bank is positioning itself as a frontrunner in green finance and international capital mobilisation.
Acting Chief Executive Officer Trần Khải Hoàn said the bank would prioritise two main pillars: green finance and digital transformation, viewing them as essential to enhancing competitiveness in an international financial landscape.
To support this strategy, Nam Á Bank has been expanding technical and market partnerships.
These include cooperation with the International Finance Corporation (IFC) on green supply-chain financing, collaboration with FiinGroup to digitalise financing processes, and engagement with the Global Green Growth Institute (GGGI) to develop standards and appraisal frameworks for green bond issuance.
The bank has also broadened its links with impact investment funds such as responsAbility Investments, BlueOrchard Finance and Symbiotics, alongside domestic industry associations, to facilitate capital flows into sustainable production sectors.
According to Hoàn, the adoption of international frameworks and principles – including EU Taxonomy guidelines, International Capital Market Association (ICMA) principles and IFC Performance Standards – will play a critical role in enhancing transparency and improving access to global capital for projects operating within the centre.
Meanwhile, TPBank is leveraging its strengths in digital banking and governance aligned with international practices.
The bank expects to support the VIFC–HCMC through the development of a digital financial ecosystem, fostering new financial products and expanding green and sustainable finance offerings.
By doing so, TPBank aims to contribute to improving the quality and depth of Việt Nam’s capital markets while reinforcing the country’s position within the regional financial landscape.
Nguyễn Đức Lệnh, deputy director of the State Bank of Vietnam’s Region 2 branch, emphasised that the money market and banking sector constitute core components of any financial centre.
He noted that the banking sector’s role at the VIFC–HCMC would be reflected in three main areas: refining the legal framework in line with international standards, promoting competition and strengthening the capacity of financial institutions, and meeting capital demands across commodity, capital and insurance markets, as well as key service industries of the city.
From a broader market-structure perspective, analysts say the participation of domestic banks not only helps establish an operational backbone for the VIFC–HCMC but also enhances the competitiveness of Việt Nam’s financial system.
This is considered a critical prerequisite for the centre to gradually develop into a market with greater depth, increased attractiveness to international capital flows and a stronger contribution to sustainable economic growth.
