The Financial Services Commission announced on May 22 that the State Bank of Vietnam (SBV) granted a Certificate of Eligibility for Providing Credit Information Services to NICE Credit Information (NICE CI), which is NICE Information Service’s local subsidiary in Vietnam, on May 20. NICE CI will become fourth credit information service provider in Vietnam along with PCB (Jul 2013), FCBV (Dec 2024), and KCI (Dec 2024), in order of the time of authorization granted.
For Vietnam, Korea is the largest FDI originating country, the second largest tourist sending country, and the third largest bilateral trade partner. In terms of overseas presence, Korean financial companies have the second largest number of overseas establishments in Vietnam (54 as of May 2026), second only to the United States (68). Shown by the recent license obtainment of Korea Development Bank’s Hanoi branch (Jan 2026) and Industrial Bank of Korea Vietnam (Apr 2026), and NICE CI (May 2026), Korean financial companies have been expanding their presence in the Vietnamese market across diverse sectors.
The SBV’s granting of certificate to NICE CI this time took only 10 months from the time of application in July 2025. The speedy result can be seen as a successful outcome of the Korea-Vietnam summit meeting (Apr 22), the high-level financial meeting between FSC Chairman Lee Eog-weon and SBV Governor Pham Duc An (Apr 24), and constant efforts to strengthen communication and build local relationship by the private sector and overseas diplomatic channels.
NICE CI’s operation scheduled for H1 2027 in Vietnam will help to improve local financial companies’ risk management systems. Through this, NICE CI will also support Vietnam to strengthen its non-performing loan (NPL) management capacity. Equipped with advanced service tools and reliable credit information infrastructure, NICE CI will help to boost the credibility of Vietnam’s financial markets. Moreover, NICE CI plans to seek ways to help to improve financial access for local consumers.
The FSC will continue to work with financial companies to actively support and promote their business expansion overseas.
* Please refer to the attached PDF for details.