Indovina Bank

What Indovina Bank does

Indovina Bank (legal name: Ngân hàng TNHH Indovina) is a 50/50 joint-venture bank between Vietnam's VietinBank (Ngân hàng TMCP Công Thương Việt Nam) and Taiwan's Cathay United Bank, established on November 21, 1990 as the first joint-venture bank in Vietnam. The bank operates under a State Bank of Vietnam license (No. 101/GP-NHNN, dated November 11, 2019) and holds registered capital of $252 million USD as of end-2025. It is headquartered in Ho Chi Minh City and operates 14 branches, 1 business center, and 19 transaction offices across 8 cities: Ho Chi Minh City, Hanoi, Hai Phong, Da Nang, Hoi An, Binh Duong, Dong Nai, and Can Tho, employing 501-1,000 staff.

The bank serves two primary customer segments: retail/personal banking (deposits, consumer loans, car loans, house loans, Visa credit/debit cards, domestic debit cards, money transfers, bill payments) and corporate/business banking (current accounts, working capital loans, import-export financing, trade finance, domestic and international guarantees, cash flow management, forex, tax payment services). Its core digital platforms include IVB Internet Banking, IVB Mobile Banking (iOS and Android, branded as IVB MB), and IVB Biz+ for corporate clients, supported by SMS Banking and IVB E-Commerce. The technology stack integrates with national payment infrastructure (NAPAS 24/7 instant transfers, VietQR QR payments) and uses BKAV Token hardware for high-security authentication alongside biometric (fingerprint, Face ID) and OTP methods. The bank supports multilingual service (Vietnamese, English, Mandarin), positioning it to serve foreign-invested enterprises and joint ventures operating in Vietnam.

Indovina Bank's revenue model is conventional banking economics: net interest income from lending (consumer, mortgage, corporate, trade finance), fee and commission income from accounts, transfers, cards, and guarantees, and funding cost from deposits. Pricing is granular and publicly disclosed — for example, Mobile Banking maintenance at 7,700 VND/month, SMS Banking at 10,000 VND/month (individuals) and 30,000 VND/month (businesses), and NAPAS 24/7 transfers free up to 500,000 VND then 5,000 VND per transaction. Recent strategic actions include the 2025 mobile banking interface refresh and the 2026 launch of IVB Biz+ corporate platform, alongside a 2025 capital increase to $252M.

Name

Indovina Bank

Legal name

Ngân hàng TNHH Indovina

Website

https://indovinabank.com.vn

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Indovina Bank is a Vietnam-based 50/50 joint-venture bank between VietinBank and Cathay United Bank, serving retail and corporate customers through 14 branches, 19 transaction offices, and digital banking platforms (IVB Mobile, Internet Banking, IVB Biz+).

Ownership category

akta.pro rank

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Revenue model

1. Interest Income: Interest revenue from lending activities including consumer loans, car loans, house loans, business loans, and import/export financing
2. Fee and Commission Income: Fees from banking services including account management, transfers, card services, SMS Banking, Mobile Banking, and guarantee services
3. Deposit Services: Interest paid to depositors for savings accounts, time deposits, and certificate of deposits

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

Insuffici

Product overview

Indovina Bank (IVB) is a joint-venture bank offering a comprehensive portfolio of banking products and services for both individual and corporate customers. The core digital banking offerings include IVB Internet Banking, IVB Mobile Banking, and IVB Biz+ for business customers, supported by SMS Banking and IVB E-Commerce services. The retail banking suite covers deposit products (savings, time deposits, certificates of deposit, flexible term deposits), loan products (consumer, car, house, and real estate loans), card services (Visa credit/debit and domestic debit cards), and money transfer services including NAPAS 24/7 instant transfers and QR code payments via VietQR standard. Corporate banking includes current accounts, term deposits, working capital and investment loans, import/export financing, trade finance, domestic and international guarantees, cash flow management, and tax payment services. The bank also offers ancillary services such as securities depository, bill payment, and e-wallet functionality.

Differentiator

Problem solved

Functional benefit

Segments2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Sacombank: Mid-to-large Vietnamese private bank with full retail and corporate product set including trade finance. Comparable in scale, geographic spread, and product breadth to Indovina.
• Standard Chartered Vietnam: Foreign bank operating in Vietnam with similar wholesale and affluent-retail focus, international banking capabilities, and trade finance products. Competes with IVB for cross-border corporate and SME banking mandates.
• HSBC Vietnam: Directly comparable foreign-bank presence in Vietnam offering retail and corporate banking with international trade finance expertise. Like Indovina, it leverages global parent capabilities to serve foreign-invested enterprises and trade corridors in Vietnam.
• VPBank: Large Vietnamese private bank with broad retail and SME banking including digital initiatives (FE Credit, VPBank Neo). Comparable in offering a full banking suite with digital-led growth in Vietnam.
• MBBank (MB): Private Vietnamese bank with strong digital and corporate banking franchise, active in trade finance and cash management. Comparable in digital banking ambition and corporate-banking depth.
• ACB (Asia Commercial Bank): Private Vietnamese commercial bank with similar retail and corporate banking mix, heavy digital investment, and comparable branch network scale. Closest mid-cap pure domestic peer.
• Techcombank (TCB): One of Vietnam's largest private joint-stock banks, comparable in scale and digital banking ambition. Both target retail and SME banking with strong mobile app propositions, though TCB is materially larger.
• HDBank: Vietnamese private commercial bank pursuing retail and SME growth with digital banking investments. Comparable scale and customer-segment focus.

Regional players

• SHB (Saigon-Hanoi Commercial Joint Stock Bank): Vietnamese commercial bank with similar mid-tier scale and broad retail/corporate offering. Comparable in geographic coverage across major Vietnamese cities and product breadth.

Broad incumbents

• Vietcombank: Vietnam's largest state-owned commercial bank and a benchmark for retail and corporate banking. While much larger, it competes directly with IVB for trade finance and large corporate clients.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCkjIThE8ZeKith6EwjtnmFA
• Facebookfacebook.com/IndovinaBankLtd
• LinkedInlinkedin.com/company/indovina-bank

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Indovina Bank