Vietnamese banks draw billions of US dollars in foreign capital inflows

The central bank prepares to launch a foreign exchange swap transaction worth up to US$2 billion on Friday, with a 182-day term.

The maturity is longer than the seven- to 21-day swap transactions conducted previously, giving banks greater flexibility in managing their Vietnamese dong liquidity.

The SBV will buy U.S. dollars at VND24,399 per dollar and commit to selling them back after 182 days at VND24,704.

If the full quota is utilized, approximately VND48.8 trillion (US$1.9 billion) could be injected into the banking system.

Participating banks must have outstanding medium- or long-term foreign loans, or bonds issued in international markets, with at least 12 months remaining until maturity.

Each bank may register for a maximum of US$1.6 billion, subject to the total value of its eligible outstanding debt.

Since 2025, several Vietnamese lenders have announced large-scale international fundraising deals.

In late June this year, VPBank signed a US$1.44-billion sustainability-linked syndicated loan agreement with 15 international financial institutions, with a three-year maturity.

The deal was expanded from its initial target of US$1.2 billion following the fundraising process.

In 2025, VPBank raised a US$1.56-billion international syndicated loan and issued US$300 million in five-year sustainability bonds, which are due to mature in September 2030.

These transactions provided additional medium- and long-term funding while expanding VPBank’s relationships with foreign financial institutions.

As of September 30 this year, VPBank’s separate financial statements recorded approximately VND161.729 trillion (US$6.2 billion) in foreign-currency borrowings from financial institutions and lenders.

Its financial statements also reflected the outstanding US$300 million international bond issue from 2025, with nearly four years remaining until maturity.

Techcombank confirmed that it had secured a US$1-billion international syndicated loan in the third quarter of 2026.

At an investor meeting on October 22, Techcombank representatives said the loan carried competitive interest rates compared with other foreign funding sources.

SHB raised two medium-term international syndicated loans totaling US$600 million in 2025.

In mid-October, SHB announced another US$340-million loan arranged by Japan’s Sumitomo Mitsui Banking Corporation, with a three-year term starting from the first disbursement.

The total value of the three announced transactions reached US$940 million.

In the same month, SHB issued S$229 million (US$179 million) in international bonds in Singapore, comprising S$129 million (US$101 million) in three-year bonds carrying an annual interest rate of 2.9 percent and S$100 million (US$78 million) in five-year bonds at 3.15 percent.

In late July this year, HDBank announced a US$721-million international syndicated social loan involving the Asian Development Bank, Standard Chartered and several other international lenders.

The loan was about 60 percent larger than initially planned and is intended to support micro, small and medium-sized enterprises, particularly women-owned businesses.

During the first half of 2026, MB completed syndicated and bilateral U.S. dollar loan transactions worth a combined US$550 million. According to law firm Baker McKenzie, the deals involved Standard Chartered, Wells Fargo, Landesbank Baden-Württemberg and OCBC.

ACB also raised a US$500-million international syndicated loan during the third quarter of 2026. The three-year facility is expected to strengthen the bank's medium-term funding base.

Meanwhile, VIB finalized a US$285-million syndicated loan involving nine Asian financial institutions. The three-year facility forms part of the bank's broader strategy to raise US$1 billion in medium- and long-term international funding.

According to VIB, borrowing costs on the latest transaction were approximately 30 basis points lower than those of its previous syndicated loan.

Most of the syndicated loans and international bonds carry maturities ranging from three to five years, helping lenders diversify funding structures and reduce reliance on short-term deposits.

The SBV’s upcoming six-month foreign-exchange swap operation provides another tool for banks holding qualifying foreign-currency liabilities.

By temporarily exchanging U.S. dollars for Vietnamese dong, lenders can strengthen local-currency liquidity without increasing short-term borrowing in the interbank market.