Banks and the Banking System in Ho Chi Minh City

by Ha Ly
(Ho Chi Minh City)

Vietnamese banking system include:

1-State Bank of Vietnam (SBV): is a Government body and is also the central bank of Vietnam. State Bank of Vietnam has the following principal functions

-State management of monetary and banking operations

-Issuer of bank notes and coins

-Banker for credit institutions and provider of monetary services to the Government

SBV is responsible for establishing the value of money, ensuring the maintenance of the safety of banking activities and credit organizations and facilitating the development of a socialist-oriented economy.

2-State - owned banks:

The principal state owned credit institutions are the state owned banks. There are 5 major the state owned banks, namely The bank for Foreign trade of Vietnam (Vietcombank), The Industrial and Commercial bank of Vietnam (Vietindebank), the Investment and Development bank of Vietnam (BIDV) and the Vietnam Bank for Agriculture and Rural Development (Agribank).

3-Joint-stock commercial banks: these banks are equity companies established under Vietnamese law

4-Foreign bank branches : these are foreign banks established under foreign law that have set up branches licensed to operate in Vietnam. A foreign credit institution is also permitted to open a representative office in Vietnam, but a representative office cannot carry on business operations in Vietnam.

5-Joint venture bank: these bank are established in Vietnam as Vietnamese legal entities with capital contributions from both foreign and domestic legal entities

6-Co-operative credit institutions: these credit institutions are classified as non banking credit institutions and can carry out foreign exchange activities and provide banking services in accordance with the Law of credit institutions and the Law on Co operatives for the main purpose of assisting members in developing their business production activities and improving their living standards. They are formed by organization, individuals or households to provide banking services to members. Co operatives credit institution comprise co-operative banks, people’s credit funds, credit co-operatives and other institutions.

Co-operative credit institutions may raise capital from members and other organizations and individuals and use that capital to provide loans to members. Any loan made to a non-member must be approved by the members and the loan amount must not exceed the limit prescribed by State Bank of Vietnam

7-Finance companies: these credit institutions are classified as non banking credit institutions and are entitled to carry out banking operation other than the taking of deposits or the provision of payment services. Foreigners are entitled to hold up to 30% of the capital of finance companies

8-Finance leasing companies: the Law of credit institution provides for the establishment of finance leasing companies subject to the supervision of State Bank of Vietnam. Finance leasing is carried out by Finance leasing companies. Several joint venture enterprises and 100% foreign owned Finance leasing companies have been established in Vietnam.

Presently, in Vietnam , there are 5 of State - owned banks, 37 of Joint-stock commercial banks, 26 Foreign bank branches, 4 Joint venture banks, 5 of Finance companies, 8 of Finance leasing companies, nearly 1000 of Co-operative credit institutions and 41 representatives offices of foreign credit institutions.

1. State-owned Commercial Banks:
Bank for Foreign Trade of VietNam (Vietcombank) –Add: 29 Ben Chuong Duong, Dist.1-Tel:84-8-8230311

Bank for Industry and Commerce of VietNam (VietIncombank) –Add:79A Ham Nghi, Dist.1-Tel:

Bank for Agriculture and Rural Development of VietNam –Add: 50 Ben Chuong Duong, Dist.1-Tel:84-8-8222752

Bank for Investment and Development of VietNam –Add:134
Nguyen Cong Tru, Dist.1-Tel:84-8-829 0410, Fax: 84-8-914 1577, Email:
Bank for housing development of Mekong Delta- Add:2-4-6 Dong Khoi st, Dist 1-Tel: 84-8-8239980

2. Foreign bank branches:

1 ANZ Bank – 11 Cong Truong Me Linh, Dist.1
2 BNP Bank – 2 Thi Sach, Dist.1
3 BFCE Bank - 11 Cong Truong Me Linh, Dist.1
4 Bangkok Bank – 35 Nguyen Hue, Dist.1
5 Chinfon Bank – 27 Tu Xuong, Dist.3
6 Citi Bank – 115 Nguyen Hue, Dist.1
7 Deustche Bank – 65 Le Loi, Dist.1
8 HongKong Shanghai Bank Corporation – 235 Dong Khoi, Dist.1
Tel:(84.8) 3829 2288; Fax: 823 0530; E-mail:
9 Indosuez Bank – 21-23 Nguyen Thi Minh Khai, Dist.1
10 Bank of Tokyo- Mitsubishi – 5B Ton Duc Thang, Dist.1
11 Thai Military Bank – 37 Ton Duc Thang, Dist.1
12 ICBC Bank - 5B Ton Duc Thang, Dist.1
13 Commercial China Bank - 5B Ton Duc Thang, Dist.1
14 Overseas Union Bank – 65 Nguyen Du, Dist.1
15 SHINHAN Bank – 41 Nguyen Thi Minh Khai, Dist.1
16 Credit Lyonais Bank - 65 Nguyen Du, Dist.1
17 Chase Manhattan Bank - 29 Le Duan, Dist.1

3. Private Joint-Stock Commercial Bank:

1 Asian Commercial Bank (ACB) – 442 Nguyen Thi Minh Khai, Dist.3
2 Phuong Nam Bank – 258 Minh Phung, Dist.11
3 East Asia Commercial Bank (EACB) – 130 Phan Dang Luu, Phu Nhuan Dist.
4 First Commercial Bank – 715 Tran Hung Dao, Dist.5
5 Gia Dinh Commercial Bank – 68 Bach Dang, Binh Thanh Dist.
6 International Bank – 92 Nam Ky Khoi Nghia, Dist.1
7 South Asia Bank – 208-210 Le Thanh Ton, Dist.1
8 Que Do Commercial Bank – 1-3-5 Can Giuoc, Dist. 8
9 Nam Do Commercial Bank– 129B Cach Mang Thang 8, Dist.3
10 An Binh Commercial Bank – 238 Hung Vuong, Binh Chanh Dist.
11 Bank for Housing Development of HCMC – 33 Pasteur, Dist.1
12 Tan Viet Commercial Bank – 340K Hoang Van Thu, Tan Binh Dist.
13 Viet Hoa Commercial Bank – 203 Phung Hung, Dist.5
14 Saigon Commercial Bank (SACOMBANK) – 596-600 Nguyen Chi Thanh, Dist.11
15 Saigon Industrial Commercial Bank – 144 Chau Van Liem, Dist.5
16 Bank for Export and Import (Eximbank) – 7 Le Thi Hong Gam, Dist.1
17 Phuong Dong Commercial Bank – 45 Le Duan, Dist.1

4. Foreign Joint Venture Banks:

1 Indovina Bank – 36 Ton That Dam, Dist.1
2 VID Public Bank – 15A Ben Chuong Duong, Dist.1
3 First Vina Bank – 3-5 Ho Tung Mau, Dist.1
4 Vinasiam Bank – 2 Pho Duc Chinh, Dist.1

5. Branches of Joint-Stock Commercial Bank in HCMC:

1 Technological and Commercial Bank of VietNam (Techcombank) –
24 Pasteur, Dist.1
2 Bank for Private Enterprises of VietNam (VBP) – 165Ham Nghi, Dist.1
3 Maritime Bank of VietNam – 26-28C, Hai Ba Trung, Dist.1
4 Asia – Pacific Bank – 37A Nguyen Thi Nho
5 Military Bank – 202b Hoang Van Thu, Phu Nhuan Dist.

6. Joint-Stock Financial Companies:

1 Seaprodex Joint-Stock Financial Company – 87 Ham Nghi, Dist.1
2 Saigon Joint-Stock Financial Company – 115 Nguyen Cong Tru, Dist.1
3 Textile Joint-Stock Financial Company – 43 Ben Chuong Duong, Dist.1
4 Rubber Joint-Stock Financial Company – 210 Nam Ky Khoi Nghia, Dist.3

Submitted by Miss Ha Ly
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