Trần Khải Hoàn, general director of Nam A Bank, signed the agreement with Vân Phan, general director representing JPMorgan Chase Bank

The agreement follows discussions between senior representatives of the two institutions in June 2026. In just over four months, the two banks completed the counterparty due diligence process, opened US dollar settlement accounts and signed the agreement.

The timeline reflects the progress made in establishing the banking relationship and the two sides’ commitment to cooperation.

Under the agreement, JPMorgan Chase will provide short-term US dollar trade finance facilities to Nam A Bank to support import and export financing, including pre- and post-shipment financing for corporate customers.

Together with the US dollar settlement accounts established at JPMorgan Chase, the arrangement is expected to strengthen Nam A Bank’s international payment capabilities, streamline cross-border transactions and expand financing options for Vietnamese import-export businesses.

Beyond the initial trade finance facilities, the master agreement provides a basis for a broader, long-term correspondent banking relationship. The two sides plan to explore further cooperation in areas such as trade finance facilities supported by guarantee programmes from international development finance institutions, foreign exchange solutions, modern payment services and access to JPMorgan Chase’s financial market research.

Executives from Nam A Bank and JPMorgan Chase pose for a commemorative photo

Trần Khải Hoàn, member of the board of directors and general director of Nam A Bank, said: “Today’s cooperation is not merely a trade finance agreement, but also a foundation for Nam A Bank and JPMorgan Chase to strengthen international financial connectivity. The confidence of global partners such as JPMorgan Chase helps the bank optimise its medium- and long-term funding structure while expanding resources for trade finance, supply chains, small and medium-sized enterprises (SMEs), green finance and inclusive finance. This will enable us to better support Vietnamese businesses as they expand into international markets.”

Vân Phan, senior country officer of JPMorgan Chase Bank in Việt Nam, said: “JPMorgan Chase greatly values the opportunity to work with Nam A Bank. We are particularly impressed that the two banks established the relationship in just four months, with Nam A Bank meeting stringent international compliance standards. Opening the US dollar account in the United States and signing the Master Trade Loan Agreement are only the beginning. As a ‘bank for banks’, JPMorgan Chase stands ready to draw on its team of experts and research capabilities to help Nam A Bank connect with global investors and explore further cooperation, from long-term financing to international capital raising.”

To establish the partnership, Nam A Bank underwent JPMorgan Chase’s due diligence process, covering know-your-customer (KYC) requirements, anti-money laundering and countering the financing of terrorism (AML/CFT), and other international compliance standards.

The completion of this process reflects the bank’s efforts to strengthen governance, transparency and compliance with international standards, supporting its plans to expand cooperation with major global financial institutions.

Over its 34 years of operation, Nam A Bank has pursued greater international integration, establishing correspondent banking relationships and strategic partnerships with development finance institutions in Europe, Asia and North America. The agreement with JPMorgan Chase further expands the bank’s international network and supports its sustainable development strategy.

Nam A Bank was recently included for the first time in S&P Global Market Intelligence’s ranking of the 50 largest listed banks in Southeast Asia by financial performance, placing 10th in the region. The ranking was based on fiscal year 2025 data.

JPMorgan Chase & Co. is a major US financial services group headquartered in New York, with a history dating back to 1799. It provides investment banking, commercial banking and asset management services to corporations, institutional investors, governments and other clients in more than 100 markets worldwide./.