Shinhan Bank is one of the leading banks in South Korea, with more than 100 years of prestige. It is proud of its unique, industry-leading capabilities and high growth and now aims at transforming itself into a world-class financial services provider with global competence in talent and infrastructure.
Shinhan Bank has more than 1,000 branches in South Korea and a global network of 66 branches and subsidiaries in 15 countries and territories, including the US, the UK, Germany, Canada, Japan, China, India, Hong Kong, Singapore and Vietnam. Of particular note, the bank is the official partner of the 17th Asian Games Incheon 2014.
With a clear vision of “Shinhan Bank Vietnam aims to become the best foreign bank in Vietnam, trusted and admired by everyone” and with confidence in its state-of-the-art credit and financial foundations and high expectations about Vietnam’s potential, Shinhan Bank was a pioneer in promoting formal diplomatic relations between Vietnam and the Republic of Korea by establishing a representative office in the country in 1993. Two years later the Shinhan Bank Ho Chi Minh City Branch was opened. A major milestone was reached in 2009 when Shinhan Vietnam Bank was licensed and became one of five 100 per cent foreign-owned banks in the country.
On November 28, 2011 the bank once again expressed its commitment to Vietnam by merging with Shinhan Vina Bank and officially changing its name to Shinhan Bank Vietnam. After the merger Shinhan Bank Vietnam had the largest charter capital among all banks with 100 per cent foreign capital in Vietnam. This was likely the first M&A in Vietnam following the issuance of Circular No 04 by the State Bank of Vietnam, which stipulates regulations on the merger, consolidation, and acquisition of credit institutions.
During the past 20 years of sustainable endeavour in Vietnam, Shinhan Bank Vietnam has been trusted and chosen by Vietnamese citizens and foreigners, local enterprises and foreign investors, and especially the South Korean community in Vietnam. It now has nine branches and transaction offices in Ho Chi Minh City, Hanoi, Binh Duong, Dong Nai and Bac Ninh. In the coming time the bank will open three more branches in Ho Chi Minh City, Hai Phong, and Thai Nguyen, and a transaction office in Hanoi. With customers at the centre of its business, Shinhan Bank Vietnam strives to offer the best in service quality. It not only inherits the worldwide, diverse range of products of the Shinhan Financial Group but also takes advantage of Vietnam’s sustainable banking and financial network. Such features enable the bank to fully meet all the demands of a variety of customers.
In 2011, Shinhan Bank Vietnam was the first bank in South Korea to make a move in Vietnam’s credit card market and after three years has issued more than 100,000 credit cards and debit cards. “In the beginning, Shinhan Bank Vietnam mainly focused on South Korean customers but in recent years it has extended its services to Vietnamese customers,” said Mr Suh Myung Kook, Deputy General Director of Shinhan Bank Vietnam. “From this year Shinhan Bank Vietnam will focus on developing the credit card segment, which has several advantages over debit cards.”
In March, Shinhan Vietnam Bank was honoured with the “Leadership in Commercial Payment Volumes - 2013” award from Visa International for the best achievement in Visa Corporate card sales. In particular, Shinhan Bank Vietnam has recently signed an agreement with the South Korean Consulate General in Ho Chi Minh City over the issue of multiple-entry visas to the bank’s platinum credit card holders. The bank’s platinum card holders will not be required to show their financial statements to get a South Korean visa. This may well be unique in the world and proves that the South Korean Government acknowledges the premier customers of Shinhan Bank Vietnam and has a firm belief in the bank’s credit rating system. Other procedures will also be simplified. This is expected to enhance business and tourism co-operation between the two countries.
The value of a company is enhanced when it is able to deliver customers greater satisfaction. The bank has learned that besides enjoying a comprehensive line up of financial services to meet diverse needs, its customers deserve something more fundamental. That is peace of mind and a state of tranquillity built upon trust and faith and Shinhan Bank will do its best to nurture that faith.
With the motto “Accompanying for a better tomorrow”, in addition to its remarkable contributions to the development of Vietnam’s economy through best banking services, Shinhan Bank has also joined many social activities and voluntary services in Vietnam with the purpose of helping, supporting and serving the Vietnamese people and the community. Such activities include visiting and presenting gifts at orphanages, old people’s homes, and children’s hospitals, supporting facilities for study and building schools in remote regions, conducting periodical scholarship programmes for poor students, sponsoring volunteer activities of Kocham, the South Korean Consulate, the Korean education support programme in Vietnam, and the Greenday environmental activity.
In recognition of these meaningful social activities, the Ministry of Planning and Investment presented Shinhan Bank Vietnam a Merit Certificate for “making a great contribution in responsible activities” in 2012. In 2014, the Vinh Phuc Provincial People’s Committee presented Shinhan Bank Vietnam with a Merit Certificate for recording excellent achievements in supporting children in especially difficult circumstances. In particular, Shinhan Bank Vietnam was honoured to receive the title “Excellent Labour Collective” and an “Emulation Flag” from the State Bank of Vietnam for recording excellent performance for two consecutive years, in 2012 and 2013.
- Shinhan Bank