Shinhan Bank adopts flexible hours at 5 branches

A model holds a banner promoting Shinhan Bank's flexible business hour system at the bank's head branch in central Seoul, Tuesday. / Courtesy of Shinhan Bank

By Jhoo Dong-chan

Shinhan Bank will start a pilot run of the Good Time Bank, the bank's flexible opening hour system, at five of its branches, the lender said Tuesday.

The bank said the introduction of the system was aimed at more properly accommodating customers' lifestyles and transaction patterns.

The five branches are located at Gwanghwamun, Gayang Station and Gayang Station's Corporate Financial Center in Seoul, Bundang Central Financial Center in Seongnam, Gyeonggi Province, and Mokpo University in South Jeolla Province.

These branches will be open from 10 a.m. until 5 p.m. starting Aug. 5. Business hours for regular branches are from 9 a.m. to 4 p.m.

“I understand a few customers are experiencing difficulties in visiting our bank branches during regular opening hours. The Good Time Bank system will help accommodate such customers,” a Shinhan Bank official said.

“Shinhan Bank will look more thoroughly into customers' visiting patterns to our branches by their professions and regions.”

This was the first time for Shinhan to expand the system for regular customers. The bank has already introduced the flexible hour system at 110 branches to serve public officials, hospital staff and foreigners.

Shinhan Financial Group, the bank's holding company, posted a net profit of 3.16 trillion won ($2.89 billion) in 2018, up 8.2 percent from the previous year. It is the highest net profit recorded to date.