52110 - SeABank Social Loan

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Summary of Investment Information

Project Number

52110

Company Name

SOUTHEAST ASIA COMMERCIAL JOINT STOCK BANK

Date SPI Disclosed

Jun 12, 2026

Country

Viet Nam

Region

East Asia and the Pacific

Projected Board Date

Jul 31, 2026

Environmental Category

FI-2 - Limited

Status

Pending Approval

Last Updated Date

Jun 15, 2026

Department

Regional Industry - FIG Asia & Pac

Industry

Financial Markets

Sector

Commercial Banking - General

Project Description

The proposed investment in Southeast Asia Commercial Joint Stock Bank (SeABank or the Bank) is an 5-year unsecured senior loan of up to US$86 million. The loan proceeds will support SeABank to finance eligible social assets defined by the Social Loan Framework (SLF) to be established by the Bank with the support of IFC’s advisory services, which will adhere to the Loan Market Association’s (LMA)’s Social Loan Principles (SLP). In addition to that, IFC’s own account investment will have a particular focus on gender financing with approximately 25% of the proceeds to be earmarked for women borrowers, including women-owned micro, small and medium enterprises (WMSMEs) (the “Project”).

Associated Advisory Engagement

IFC’s ongoing Social Finance Advisory with SeABank (under project number #609658) is focused on supporting the bank to build a credible and scalable social finance program aligned with International Capital Market Association (ICMA) and Loan Market Association (LMA) principles, alongside this investment transaction. The advisory engagement covers three key workstreams: portfolio review to identify eligible social assets within the Bank’s existing lending, framework development to establish a market-aligned Social Finance Framework (focusing on use of proceeds, governance, and reporting) for both loans and any future social bond issuances, and capacity building to strengthen the Bank’s ability to originate, manage, and report on social finance instruments.

Sponsor / Cost / Location

IFC's loan to the financial institution described in this SII is targeted for on-lending to the following sector(s):

Product Type	Use of Proceeds
Syndications	Others (only if UoP is not available)
Straight Senior Loan	Loans to MSME (mix of Micro and SME)
Straight Senior Loan	Loans to Woman-Owned SMEs
Straight Senior Loan	Housing Loans to Individuals
Syndications	Others (only if UoP is not available)

IFC's Definitions of Targeted Sectors can be found here.

Development Impact

IFC anticipates the Project to expand access to finance for MSMEs, including self-employed individuals and women-owned businesses, and improve affordable housing finance in Viet Nam. Beyond the Project, IFC anticipates that via innovation, demonstration, replication and capacity building channels, the Project will provide a model for other financial institutions in Viet Nam to adopt internationally recognized principles to support social finance and contribute to the development of a reliable and sustainable social finance market in Viet Nam.

Financial additionality: IFC will provide SeABank with stable longer-term funding of up to 5 years, which is not readily available in the market. IFC will play a key role in mobilizing financing from other investors, with IFC’s investment sending a strong signal to the market and boosting potential investors’ confidence. Non-financial additionality: IFC will provide advisory services to the Bank, which encompasses portfolio review to identify existing social finance assets, technical assistance in developing a Social Finance Framework followed by verification from a Second Party Opinion provider, as well as capacity building for social finance assets origination, management, and reporting.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
No. of VN FIs obtained social finance which follows international-recognized rules	Number		Not Available	Not Available	Not Available
Number of Outstanding Loans, Housing : (target group)	number		Not Available	Not Available	Not Available
Number of Outstanding Loans, MSMEs	number		Not Available	Not Available	Not Available
Number of Outstanding Loans, Women-led MSMEs	number		Not Available	Not Available	Not Available
Value of Outstanding Loans, Housing : affordable	$		Not Available	Not Available	Not Available
Value of Outstanding Loans, MSMEs	$		Not Available	Not Available	Not Available
Value of Outstanding Loans, Women-led MSMEs	$		Not Available	Not Available	Not Available

E&S Category Rationale / Risks and Mitigation

The proposed Project consists of a senior loan to SeABank to support its eligible retail and MSME financing activities following LMA’s Social Loan Principles. Higher E&S risk activities involving (a) involuntary resettlement, (b) risk of adverse impacts on indigenous peoples, (c) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage, (d) risk of significant retrenchment, or (e) significant occupational health and safety risks, will not be eligible for financing from the proceeds of the Project. Coal-related activities including coal mining, coal transportation or coal-fired power plants, as well as infrastructure services exclusively dedicated to support any of these activities, will not be supported by this Project either. The Project has been categorized as FI-2 as the activities supported by the Project are expected to be of moderate E&S risks that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures. The applicable E&S performance requirements for the Project will include IFC Exclusion List, applicable Vietnamese E&S laws and regulations, and screening out higher E&S risk activities.

The main E&S risks and impacts of the proposed Project, while moderate in nature as described above, may arise from the eligible MSME financing activities supported by the Project. They may include risks and impacts related to occupational health and safety, labor and working conditions, pollution management, among others. SeABank will be required to implement an Environmental and Social Management System (ESMS) to assess and manage such risks of asset class supported by the Project consistent with the above applicable E&S performance requirements.

SeABank has developed an ESMS and established capacity for its implementation. The ESMS comprises procedures for E&S screening, risk categorization, legal compliance verification, implementation of corrective actions and portfolio monitoring. Under this Project, SeABank will be required to maintain proper E&S capacity and implement the ESMS to meet the above applicable E&S performance requirements. The Project will not trigger IFC subproject disclosure requirements based on the size and nature of the Project as well as the eligibility restrictions as agreed with SeABank. SeABank’s labor management was found to be consistent with the requirements of IFC Performance Standard 2 on Labor and Working Conditions.

Contacts

For Inquiries About the Project, Contact

Southeast Asia Commercial Joint Stock Bank
Mr. Nguyen Tuan Anh
Deputy CEO

Anh.nt27@seabank.com.vn
BRG Tower, 198 Tran Quang Khai street, Hanoi, Viet Nam
https://www.seabank.com.vn/

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This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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