Targeting Automobile Industry
Shinhan Bank has relocated its Vellore Branch to Kancheepuram in Sri Perumbudur, the city of Chennai, India.
Sri Perumbudur is known as the “Detroit of India” for its automobile industry. This is the region where the Chennai automobile industrial complex is located, and a large number of the global major automotive companies including Hyundai, Ford, BMW, Renault, and Nissan Motors have manufacturing plants in the area.
Shinhan Bank was the first domestic bank to advance into Mumbai in 1996. Also, it opened branches in New Delhi in 2006, Vellore in 2010, and Pune in 2014.
An official from the bank said, “Shinhan Bank has currently secured a global network of 70 branches in 16 countries. We will improve customer interaction services in order to meet the needs of the local market, according to a stage-by-stage process for localization in the Asia Financial Belt.”