Shinhan opens 3 branches in Vietnam, consolidates status as No. 1 foreign lender

Jeon Pil-hwan, third from left, the head of Shinhan Bank's digital strategy division, poses with other dignitaries during the opening of the lender's branch in Ho Chi Minh City, Friday. Courtesy of Shinhan Bank

By Yi Whan-woo

Shinhan has newly opened three branches in the two biggest cities in Vietnam ― Hanoi and Ho Chi Minh City ― consolidating its status as the largest foreign lender operating in the Southeast Asian country.

The bank said Sunday it has opened a new branch in Hanoi, and two in Ho Chi Minh City, which increases its total number of offices in Vietnam to 46.

“The new branches help us to maintain the largest sales network in Vietnam among all foreign banks operating there,” the Korean company said. “We expect that such a network will build a friendlier brand image across Vietnam, and in that regard, we will strive to offer better services.”

The two offices in Ho Chi Minh City are located in densely-populated areas where massive housing projects are marked for construction.

The Hanoi office is located in a business district connected to other commerce districts in the city.

Meanwhile, Shinhan Bank said it will enhance partnerships with leading platform operators in Vietnam, such as Tiki and Zalo, to offer a range of digital banking services.