World Bank Group member International Finance Corporation (IFC) is proposing a $50 million trade finance facility for Vietnam’s Prosperity and Growth Commercial Joint Stock Bank (PGBank), according to a disclosure.
The proposal comes as IFC seeks to help expand PGBank’s trade business and strengthen its links with international correspondent banks, per the disclosure.
The proposed investment under IFC’s Global Trade Finance Program (GTFP) would provide PGBank, headquartered in Hanoi, with a facility limit of $50 million.
PGBank continues to expand its banking operations in Vietnam, IFC said. As of June 30, 2026, the bank had one headquarters, 23 branches, and 68 transaction offices nationwide. Its total assets stood at $3.4 billion at the end of June.
PGBank was established in 1993 and is traded on Vietnam’s Unlisted Public Company Market, or UPCoM, under the ticker PGB.
IFC is also supporting PGBank through an advisory engagement focused on strengthening its risk management framework.
The work will use gap analysis and benchmarking against relevant best practices to identify areas for improvement, IFC added.
The advisory programme will also guide PGBank in developing frameworks for environmental and social risk management and sustainable finance, aligning its risk and financing practices with its plans for sustainable growth.
As of Dec. 31, 2025, domestic investors held 99.999% of PGBank, while foreign investors accounted for 0.001%.
The bank has three major institutional shareholders: Cuong Phat International Joint Stock Company with an 11.37% stake, Vu Anh Duc Trading Joint Stock Company with 11.22%, and Gia Linh Import Export and Trade Development Company Limited with 11%.
Under the GTFP structure, IFC provides guarantees to issuing banks to reduce risks for counterparty banks involved in trade transactions.
The programme is designed to support trade flows in markets where perceived risks can make it more difficult for banks to obtain trade finance.
For PGBank, participation in the programme could help it establish relationships with new international banks while maintaining and strengthening its existing correspondent banking network.
“IFC’s presence as a provider of guarantees will help PGBank to connect with new banks, maintain and strengthen its existing network of correspondent banks, and gain trade finance experience,” IFC said.
The programme includes capacity-building initiatives intended to improve PGBank’s operational capabilities as it expands its trade finance activities.
The proposed facility is subject to the applicable IFC approval process.
