Taiwanese lenders were the largest contributors to the USD syndicated- and club-loan borrowings by Vietnamese corporates and financial institutions in 2021, accounting for 46.1%, or USD 2.68bn, of the total USD 5.83bn raised.
Their combined allocations to Vietnamese USD loans have increased each year since the beginning of 2016 – from USD 353m provided in 2016 to USD 408m in 2017, USD 667m in 2018, USD 856m in 2019 and USD 1.14bn in 2020.
State-owned Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and privately owned Vietnam Technological & Commercial Joint Stock Bank (Techcombank) raised a combined USD 2.59bn across three deals last year. Of that, 40.5%, or USD 1.05bn, were provided by Taiwanese banks. USD 922m of deals completed during the year were arranged and participated only by Taiwanese lenders.
European lenders’ share has been reducing: from USD 1.57bn in 2019 to USD 703m in 2020 and to USD 640m in 2021.
Conglomerate Vingroup and its car-marker unit Vinfast Trading and Production closed their USD 500m green loan earlier this month, and 61% of the deal was funded by Taiwanese banks, while 18% was allocated to European lenders.
