Founded in 1991, Sacombank has been a pioneer in SME financing in the country. It has extensive branch network in the rural areas. In small provincial towns and rural areas, Sacombank is often the only commercial bank active.
Norfund has participated in the first closing of a USD 100 million subordinated loan syndication. Norfund’s share is USD 25 million. The investment will strengthen Sacombank’s capital base and allow for more access to finance for SMEs in Vietnam. Norfund has also signed a capacity development facility which will assist the bank in further improving its corporate governance and implementing a social and environmental risk management system.