The State Bank of Vietnam hosted a meeting between Deputy Governor Nguyen Ngoc Canh and Chang Min Young, Chairman and CEO of the Industrial Bank of Korea (IBK), focusing on banking cooperation and IBK Vietnam’s newly granted licence to establish a 100% foreign-owned bank in Vietnam. Discussions centred on funding needs for Vietnamese enterprises, particularly small and medium-sized enterprises (SMEs), which the State Bank of Vietnam described as a key driver of growth, jobs and social welfare. The central bank encouraged IBK Vietnam to provide comprehensive financial services to both Korean companies and Vietnamese SMEs, while IBK highlighted its SME mandate and noted that 75% of its lending is directed to the sector. The State Bank of Vietnam also asked IBK to promote Vietnam’s investment environment to Korean businesses, act as a bridge to connect firms in both countries, expand supply chain finance programmes, and support Vietnamese companies’ deeper participation in global value chains.
State Bank of Vietnam 2026-04-22
State Bank of Vietnam meets Korea Industrial Bank following IBK Vietnam’s licence to establish a wholly foreign-owned bank
The State Bank of Vietnam met with the Industrial Bank of Korea to discuss banking cooperation following the licensing of IBK Vietnam as a 100% foreign-owned bank. The central bank urged IBK Vietnam to expand comprehensive financial services to Korean firms and Vietnamese small and medium-sized enterprises, promote Vietnam’s investment environment, and support supply chain finance and Vietnamese participation in global value chains.