SHB puts down welcome mat for foreign firms

Foreign business clients of Saigon-Hanoi Commercial Joint-Stock Bank (SHB) will be granted VND and foreign currency accounts and will also enjoy fee waivers on certain money transfers, online or at the counter, and on incoming international wire transfers, a 90 per cent discount for outgoing international wire transfers and 75 per cent off for Letter of Credit transactions alongside exemptions or reductions on certain international payment fees.

In addition, the bank promises to meet its clients' needs for foreign currency trading with competitive exchange rates and convenient procedures.

With this package, foreign corporate clients who use SHB’s accounts to pay salaries to employees via internet banking are exempt from transaction fees within and outside the system. In addition, the bank also offers a slew of attractive promotions for employees of foreign-invested enterprises (FIEs) opening SHB accounts. They can open credit cards with a total limit of up to VND500 million ($19,640) and secure an unsecured loan with a limit of up to 20 times their income, alongside free SMS service and ATM withdrawals.

An SHB representative said, "With our customer-centric approach, SHB offers various modern financial banking services to satisfy the needs of customers. Recognising the importance of FIEs to the economy and their expectations, SHB has designed products and solutions tailored to their demand. We have also built a pool of professional employees equipped with financial knowledge and foreign languages to accompany and support our clients."

SHB Corporate Online bank is one of SHB's several digital solutions that are effective in helping customers, including FIEs, manage cash flow, business operations, and foreign exchange trading conveniently, quickly, and at any time.

SHB's services, such as domestic and international payments, foreign currency trading, lending guarantees, commodity derivative transactions, and foreign currency trading, have received the trust of its customers over the last three decades.

SHB has proclaimed its intention to be a leading financial institution, extending its reach to the regional and international markets. The bank wishes to become a reliable partner, providing innovative solutions for its partners

IFC partners with SHB to boost lending for SMEs Saigon-Hanoi Commercial Joint Stock Bank (SHB) is the latest Vietnamese bank to join IFC in expanding access to finance for small- and medium-sized enterprises, especially women-owned businesses.

SHB seeks international investors During last week's annual shareholders' meeting, SHB approved a plan to issue additional shares to strategic foreign investors. The bank has been working with potential overseas partners, including major financial institutions, and expects to have a deal in place soon.

South Korea's Busan Bank partners with SHB to expand presence in Vietnam On October 16, Busan Bank – under BNK Financial Group from South Korea – signed an MoU with Saigon-Hanoi Bank (SHB) to form a comprehensive collaborative partnership, especially in relation to corporate, digital, and investment banking.