Vietnam’s Techcombank seeks US$1 billion, joining rush for funds

Published Wed, Aug 5, 2026 · 04:57 PM

[HANOI] Vietnam Technological and Commercial JSB, known as Techcombank, is seeking a US$1 billion loan for regular business operations, according to people familiar with the matter, in what would be one of the South-east Asian nation’s largest debt deals this year.

The borrowing is split into US$600 million three-year and US$400 million four-year portions, said the people, who asked not to be identified discussing private matters. The proceeds will be used for general corporate purposes, they said.

Standard Chartered and UOB are the coordinators of the deal, and the loan could be launched as early as next week, the people said.

Representatives for Techcombank and Standard Chartered didn’t immediately respond to request for comments, while UOB declined to comment.

Techcombank is the latest Vietnamese financial institution to turn to offshore loans as they compete to provide liquidity to companies in one of Asia’s fastest-growing economies. HCM City Development Joint Stock Commercial Bank recently signed a deal for a US$721 million social loan, while Vietnam Prosperity JSC Bank borrowed US$1.4 billion earlier this year. 

State Bank of Vietnam has set a 15 per cent credit growth target for this year even though new loans rose only about 7 per cent in the first half. The central bank will continue to provide more access to loans, and has told lenders to prioritise lending to growth sectors such as manufacturing, deputy governor Pham Thanh Ha said last month. 

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Vietnamese borrowers raised about US$3.7 billion in US dollar loans in the first half of this year, down 19 per cent from the same period last year, according to data compiled by Bloomberg. With the Middle East conflict delaying investment and dealmaking, loan issuance in dollars, euros and yen across Asia Pacific ex-Japan fell to its lowest in 16 years in the first half, according to data compiled by Bloomberg. BLOOMBERG