Shinhan Vietnam Bank Opens 'Comprehensive Fund Service Platform'

Shinhan Vietnam Bank

[Asia Economy Reporter Kwon Haeyoung] Shinhan Bank's local subsidiary in Vietnam, Shinhan Vietnam Bank, announced on the 22nd that it has established a 'comprehensive fund service platform' capable of investment asset management, trust accounting, and compliance operations in the Vietnamese capital market, together with Shinhan ITAS.

Through the opening of this platform, Shinhan Vietnam Bank has expanded the scope of its fund custody services, which it first started in 2017 as the first Korean bank. It can now provide comprehensive fund services not only to domestic asset management companies entering the Vietnamese capital market but also to local Vietnamese asset management firms.

In particular, the opening of this platform is part of Shinhan Financial Group's One Shinhan strategy. By collaborating with Shinhan ITAS, a domestic fund administration service provider, and leveraging know-how in trust accounting and compliance systems, they were able to build a high-level comprehensive fund service platform.

This platform, which is the result of combining Shinhan Vietnam Bank's global market strengths and Shinhan ITAS's fund administration experience, marks the beginning of broader securities services offered by both companies in the Vietnamese capital market. They plan to continuously cooperate with the goal of diversifying business areas, including entering real estate investment finance services.

A Shinhan Bank official said, "The opening of this platform will be a good example of Shinhan Financial Group's One Shinhan strategy," adding, "We will continue to expand our business and strengthen competitiveness by cooperating with Shinhan ITAS within the global network, including Vietnam."

This content was produced with the assistance of AI translation services.