Hana Bank Ho Chi Minh Branch Receives Local Model Taxpayer Award
KEB Hana Bank Ho Chi Minh Branch received the Model Taxpayer Award at the '2018 Model Taxpayer Award Ceremony' hosted by the Ho Chi Minh People's Committee last week. At the ceremony, Woo-Young Park, Deputy Branch Manager of KEB Hana Bank Ho Chi Minh Branch (left), is taking a commemorative photo with Tran Vinh Tuyen, Vice Chairman of the Ho Chi Minh People's Committee. Photo by KEB Hana Bank
View original image[Asia Economy Reporter Kim Min-young] KEB Hana Bank announced on the 29th that Hana Bank Ho Chi Minh Branch received the Model Taxpayer Award from the Ho Chi Minh City People's Committee in Vietnam.
The Ho Chi Minh City People's Committee annually selects and awards companies and individuals who have faithfully fulfilled their tax obligations as model taxpayers. This year, a total of 33 companies and one individual were honored with the award.
Hana Bank Ho Chi Minh Branch was the only recipient of the Model Taxpayer Award among domestic financial institutions operating in Vietnam.
Hana Bank opened an office in Ho Chi Minh in November 2007 and converted it into an official branch in April 2015. The bank conveyed the significance of the award, stating that it was recognized by the Vietnamese government for successful localization within four years.
The branch, which had recorded losses since its opening, turned profitable in 2018 with a net income of 3.06 million USD, and as of the end of September last year, it holds total assets of 240 million USD, including loan assets of 120 million USD.
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A Hana Bank official said, “In July last year, we acquired a 15% stake in BIDV, the largest bank by asset size in Vietnam and one of the four major state-owned commercial banks, laying the foundation for strengthening local operations. Going forward, through joint corporate marketing and retail-linked operations between our two branches in Vietnam (Hanoi and Ho Chi Minh Branch) and BIDV, we plan to accelerate the expansion of our financial business base in Vietnam.”
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