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IFC Invests a US$ 75 Million Convertible Loan in SeABank
IFC‘s investment is aimed at impulsing SeABanks‘s development strategies and increasing access to finance for SMEs and women-owned SMEs. Specifically, in line with IFC’s approach to addressing climate risks, SeABank will also commit to not funding new coal-related activities. This will help contribute to Vietnam’s climate targets including phasing out coal-fueled power generation by 2040 and achieving net zero carbon emissions by 2050. This commitment by SeABank will be a condition for IFC’s consideration to convert this loan to common shares within the next five years.
Before this, in 2021, IFC and 5 international investment funds including Banque Internationale de Commerce-BRED, BlueOrchard Microfinance Fund, KASIKORNBANK PCL, OPEC Fund for International Development, and responsibility Investments AG provided a financial package of US$ 220 million to SeABank for purposes of increasing financial assistance to SMEs, especially women-owned businesses and expanding climate finance. The new US$ 75 million convertible loan shows IFC’s acknowledgment of SeABank’s performance, credibility, and commitment to expanding its SME reach-out and addressing climate challenges in Vietnam.
Being an existing client of IFC, SeABank has adopted an environmental and social management system to manage E&S risks of SMEs lending and climate financing activities. With IFC support under this investment, SeABank will, among others, continue enhancing its E&S practices and performance to align with the Bank’s strategy and its stakeholders’ expectations, including applying IFC Performance Standards to higher E&S risk activities.
The IFC PSs is an international benchmark for identifying and managing E&S risk in 8 areas including Risk Management, Labor, Resource Efficiency, Community, Land Resettlement, Biodiversity, Indigenous People, and Cultural Heritage.
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Equifax and Mifundo Open Access to Brazilian Credit Data for European Banks
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Sygnum Completes First Live AI-Agent Driven Digital Asset Transactions by a Regulated Swiss Bank
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The Rise of Private Credit and the Need for Flexible Loan Servicing
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88% of UK Customers Would Switch Banks Due to Financial Crime Failures, ThetaRay Report Finds
ThetaRay, a global leader in AI financial crime compliance, today released The ThetaRay UK Banking & Fintech Trust Report 2026. The findings, launchedon the eve of The Global RegTech Summit, reveal a systemic shift in consumer behavior: 88% of UK customers are prepared to abandon their primary financial institutions over failures in preventing money laundering or terrorist financing.
Axiology and Profitus Set Baltic Record with €3.4M Digital Bond
Axiology, the financial technology company specialising in distributed ledger technology (DLT) infrastructure for capital markets has registered a record-breaking digital bond, funded through the leading crowdfunding platform in Lithuania – Profitus. The bond was registered by Axiology and distributed through Profitus, closing at a final value of €3.4 million. It is secured by shares in companies owned by Lithuanian Shark Tank investor Gediminas Kvietkauskas.
Equifax and Mifundo Open Access to Brazilian Credit Data for European Banks
Mifundo, a pan-European credit data platform, has integrated credit data from Equifax BoaVista, subsidiary of Equifax Inc. in Brazil, enabling European banks to access verified Brazilian credit information as part of their credit assessment processes.
SGX FX Adopts Chainlink to Make its Premium OTC FX Data Available to Thousands of On-chain Apps
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