Shinhan Bank Vietnam celebrates 30 years in Vietnam

Pham Tien Dung - Deputy Governor of the State Bank of Vietnam and Shinhan Bank’s representatives at the 30th year anniversary event

The 30-year journey of Shinhan Bank in Vietnam has been marked by memorable milestones and breakthrough transformations.

Shinhan Bank established the first representative office in Ho Chi Minh City in August 1993, not long after Vietnam and Korea officially established diplomatic relations.

In December 1994, Shinhan Bank was formally approved by the State Bank of Vietnam to open its Ho Chi Minh City Branch, becoming the first Korean bank to establish a branch in Vietnam. In 2011, the bank merged with Shinhan Vina Bank in 2011 to form Shinhan Bank Vietnam, the foreign bank with the largest charter capital at the time.

The year 2017 was a new turning point for Shinhan Bank when it successfully acquired the retail banking sector of ANZ Bank Vietnam that helped Shinhan Bank expand its available retail sector and more balanced in terms of product structures, building the balance between retail and corporate sector.

Localisation strategy

During its 30-year presence in Vietnam, Shinhan Bank has always shared prosperity, bringing greater values to customers and society through the search for new ways and methods to provide products and services that help customers manage their finance and capture changes in the business environment.

With the desire of becoming a true local bank for Vietnamese customers, Shinhan Bank has been determined to focus on a localisation strategy from the very beginning of entering Vietnam’s market.

It has achieved certain successes when gradually affirming a solid position not only in the market, but also the trust of millions customers, simultaneously, owning a large operation network with 51 branches and transaction offices nationwide, which is the largest network in terms of coverage in the group of current foreign banks in Vietnam.”

Not only a “trusted financial partner,” but the bank is also a bridge to connect Korean enterprises to invest in Vietnam’s market by developing special products and services for Korean customers, attracting foreign direct investment capital resources into Vietnam, to contribute Vietnam’s socioeconomic development, as well as contribute to promote diplomatic relations between two countries.

Digitalisation race

The constant support and technology transfer from Shinhan Bank in Korea is a strength for us to participate in the digitalisation race, which has been strongly developed in Vietnam. For example, Shinhan SOL Vienam Mobile Application and our digital products and services have met customers' high expectations for convenience and safety in this field of digital technology.

The digital transformation efforts of Shinhan Bank during the years have been highly appreciated by domestic and international organisations through prestigious award categories, such as “Best Foreign Digital Bank Vietnam 2023” granted by International Business; the merit for excellent achievements in digital transformation of the banking Industry granted by the SBV in the 2023 Banking Digital Transformation event.

Moreover, Shinhan Bank has also collaborated with fintech partners, reputable e-commerce in the Vietnamese market, and leveraged of “One Shinhan” spirit from Shinhan Financial Group in Vietnam including Shinhan Finance, Shinhan Life, Shinhan Securities, Shinhan DS in order to build a comprehensive digital financial ecosystem in Vietnam.

A better world through finance

The commitment of a sustainable bond between Shinhan Bank and Vietnam not only demonstrates through an effective business performance, but also through meaningful activities with high humanity value over the years. Up to now, the total expenses for corporate social responsibility activities reached nearly VND79 billion ($3.3 million).

Bike Run- One Shinhan in 2023- providing bicycles to underprivileged students

Recently, Shinhan Bank initiated marathon competition for community, partners and customers of Shinhan Financial Group in Vietnam, as well as for our employees on the occasion of celebrating 30 years of presence in Vietnam.

The event made $16,000 for the “Cap la yeu thuong” programme and to renovate school in Du Tien commune, Yen Minh district, Ha Giang province.

Impressive results from the online marathon: 7,500 runners participated with a total km of up to 677,000km

Sharing about this special milestone of Shinhan Bank in Vietnam, Kang Gewwon, CEO of the bank, stated: “Shinhan Bank's 30-year journey in Vietnam is significant and meaningful tribute to customers who have always trusted and supported us, devoted employees who are committed to the bank's long-term development, and the Vietnamese community who have always encouraged and recognised. The trust and confidence over the last 30 years has enabled Shinhan Bank to take the first steps towards establishing a solid foundation today. As Shinhan Financial Group's mission is to bring "A better world through finance," we are committed to always putting the needs of our customers first and we hope to contribute to Vietnam’s efforts in developing a sustainable economy.”

Shinhan Bank Vietnam takes centre stage with prestigious digital transformation award In a dazzling display of its commitment to digital innovation, Shinhan Bank Vietnam has been honoured with a prestigious certificate of merit at the 2023 Digital Transformation Event held in Hanoi by the State Bank of Vietnam. This recognition serves as a testament to the bank's remarkable achievements in spearheading the digital revolution within the banking sector.

Samsung Vietnam teams up with Shinhan Bank Vietnam on digital payments In a landmark move, Samsung Vietnam and Shinhan Bank Vietnam have joined hands, etching an MoU to revolutionise the digital payment arena in Vietnam on June 14.

Shinhan Bank Vietnam organised “Bike Run” event to present bicycles and scholarships to students at SOS Children’s Village Vietnam, attended by the First Lady of the Republic Korea Shinhan Bank Vietnam (Shinhan Bank) organised the “Bike Run” event to present bicycles and scholarships to underprivileged students at SOS Children's Village Vietnam. The First Lady of the Republic of Korea, Kim Keon Hee attended the meaningful event. This is one of the First Lady's activities during the trip to accompany President of the Republic of Korea Yoon Suk Yeol on his state visit in Vietnam.