S Korea's Shinhan Bank opens HCM City branch

Update: March, 20/2015 - 09:00

Shinhan Bank CEO Suh Jin-won (R) cuts a tape with guests during a launch ceremony of the lender's Bien Hoa branch in the outskirts of Ho Chi Minh City on Tuesday 19. — Photo Courtesy of Shinhan Bank

HCM CITY (VNS) — South Korea's Shinhan Bank Viet Nam opened a branch named An Dong in the southern city's District 5 yesterday.

This is the first of the four new units the bank plans to open in Viet Nam this year, with the other units expected to be located in the north in Ha Noi, Hai Phong and Thai Nguyen.

Shinhan executive Heo Young Taeg, said the branch would serve both institutional and individual customers and provide "a full range of services", including deposits, lending and card issuance.

The bank is an affiliate of the Shinhan Financial Group and is based in Seoul. It has been active in Viet Nam for 22 years and is headquartered in HCM City's District 1. Shinhan Bank Viet Nam has a charter capital of nearly VND4.55 trillion, or US$210 million. — VNS