Shinhan Bank said on Aug. 15 that Shinhan Bank Vietnam opened a total of four branches simultaneously in Vietnam, including "Danang Branch" in Danang, "My Dinh Branch" in Hanoi, "Trang Due Branch" in Hai Phong, and "Binh Duong New City Branch" in Binh Duong Province.
Shinhan Bank Vietnam opened six branches this year alone, holding a total of 36 branches, the largest number among foreign banks, including 20 in southern Vietnam, 15 in northern Vietnam, and Da Nang branch in central Vietnam.
In particular, it will be the first Korean bank to open a branch in Danang in the central region to form a nationwide network encompassing southern, central and northern Vietnam, the company stressed.
The opening ceremony of the Da Nang branch held at the Hilton Danang Hotel on Aug. 15 was attended by Jin Ok-dong, CEO of Shinhan Bank and dignitaries from the Korean Embassy in Vietnam, the People's Committee in Danang, and the Vietnamese central bank.
"We plan to expand the channel further every year to build a channel base where we can compete on an equal footing with local banks beyond the No. 1 foreign bank," a Shinhan official said.
In addition to the expansion of the channel, Shinhan Bank Vietnam is pushing for a "One Shinhan" linkage project with Shinhan Card, Shinhan Financial Investment, Shinhan Life Insurance and Shinhan DS. It is successfully implementing its operations in the country through the launch of the CIB headquarters and the introduction of PWM models.
Meanwhile, Shinhan Bank named the head of Shinhan Bank Vietnam's corporate body, Indochina regional head, which covers Vietnam, Myanmar and Cambodia. Through this, it expects to expand synergy between networks in the countries concerned and respond more effectively to the rapidly changing global financial environment.