Shinhan Vietnam Bank acquired ANZ BANK Vietnam Retail division and completed the merger at the end of 2017.
In particular, the retail loan sector saw a 100-fold growth in five years, surpassing $700 million after consolidation from $7 million at the end of 2012. It has secured more than 99 percent of its loan customers as local customers.
Shinhan Bank has set up a strategy to lead the market with a high-tech digital bank by establishing a digital financial ecosystem in Vietnam.
Already, Shinhan Bank has formed an overall partnership with Vietnam's Kakao Talk "Zalo" in platform-based credit cards and loans. It also launched credit loans with Vietnam's No. 1 electronic wallet platform MoMo and began selling mortgage products with Vietnamese real estate platform Muabannhadat.
In the future, Shinhan Vietnam Bank plans to add more than five more branches each year to the current 36 branches.
Shinhan Investment Corp. launched its Vietnamese subsidiary in February 2016 after acquiring a 100 percent stake in a Vietnamese securities firm for the first time in Korea, and is conducting operations focusing on sourcing excellent products in Vietnam and the Korea-linked IB business.
In addition, Shinhan Investment Corp. launched the first overseas stock direct investment service in a local brokerage house and has a competitive edge in competing for the nation's No. 1 and No. 2 spot in overseas stock brokerage.
In October 2016, the company opened HTS, the first in the industry to sell Vietnamese stocks in real-time, and even provides services to check stock prices, charts, and corporate financial statements through mobile devices.
Shinhan Card also took over PVFC from Vietnam and launched SVFC. In the future, SVFC plans to create a global synergy from the One Shinhan perspective in various fields along with banks and financial investment.
SVFC is the first foreign consumer finance company established in Vietnam in 2006. It is the fourth-largest blue-chip company in Vietnam with a net profit of more than 10 billion won as of the end of 2016.
Shinhan Investment's customer base in Vietnam is expected to expand even more explosively as there are fewer overlapping customers between SVFC's customer group and Shinhan Vietnam Bank's existing customer group.
