Vietnam Bank for Industry and Trade

completed

Vietnam Joint Stock Commercial Bank for Industry and Trade (“Vietinbank” or the “Bank”) is the third largest bank in Vietnam with credit market share of approximately 11.6%. Established in 1988, Vietinbank is headquartered in Hanoi, and has four subsidiaries in leasing, securities, insurance and assets management. It provides a full range of banking services including corporate and SME banking, retail and consumer banking and international banking services. The Bank completed its IPO in December 2008 and has been listed on the Hochiminh Stock Exchange since July 2009. The Project is an investment of up to $311 million, consisting of up to $186 million in equity and $125 million in subordinated debt. The investment is expected to help bring about the necessary institutional change to enable the Bank to maintain its leading position and emerge as the country’s premier SME and retail bank, as well as to support the Government of Vietnam’s privatization plan for the Bank. Along with the investment, IFC plans to provide Vietinbank with advisory services in the areas of corporate governance, SME banking, risk management, energy efficiency financing and information technology.