Shinhan Bank Vietnam, Shinhan Bank’s subsidiary in Vietnam, has opened four new branches in Vietnam simultaneously, expanding its network in the Southeast Asian country to 30, the largest among foreign banks operating in that country.
Three of the four branches are located in Ho Chi Minh City, while the remaining one opened in Hanoi City.
Of the bank’s 30 branches, 18 operate in the southern part of the country with Ho Chi Minh City in the center, while the remaining 12 are in the nothern region, including Hanoi.
The bank appointed a local official as manager for three of the four newly opened branches, increasing the number of Vietnamese-run branches to 17.
A Shinhan Bank official said the Vietnamese subsidiary would set up four to five new branches every year to expand its network to a level equal to that of local banks.
Shinhan Bank Vietnam established its first representative office in Ho Chi Minh City in 1993.