Long History to become Leading Foreign Bank
On Aug. 20, Shinhan Bank announced that it had celebrated its 30th anniversary of entry into Vietnam with an event at the Intercontinental Hotel in Ho Chi Minh City on Aug. 18.
Shinhan Bank made its foray into Vietnam in 1993, a year after South Korea and Vietnam established diplomatic relations, becoming the first Korean financial institution to do so. By 2009, they established a local subsidiary, Shinhan Bank Vietnam. Following that, the bank acquired Shinhan Vina Bank in 2011 and the retail division of ANZ Bank in 2017.
This year, Shinhan Bank Vietnam has been continuously expanding its presence in the Vietnamese financial market, adding four more branches and operating the highest number of branches, 50, among foreign banks in Vietnam. Based on key indicators such as total assets and net income for the year 2022, it has positioned itself as a leading foreign bank in the country.
The 30th anniversary event was attended by customers, partner companies, and officials from the Central Bank of Vietnam, all of whom have grown alongside Shinhan Bank Vietnam over the past three decades. Employees expressed their gratitude to customers and the Vietnamese community. Shinhan Bank’s CEO, Jung Sang-hyuk, also attended the event to convey his appreciation to staff and stakeholders.
Notably, as part of the 30th anniversary celebrations, Shinhan Bank Vietnam organized an Online Marathon Event in which both customers and employees participated. Funds raised from the distance covered during the marathon were used to support renovations of rural schools in northern Vietnam and other educational activities.