SBJ Bank-Shinhan Vietnam Bank, Financial Support for Overseas Companies Entering Vietnam

Successful Financial Support for Overseas Companies Based on a Solid Southeast Asia Network

[Asia Economy Reporter Kangwook Cho] Shinhan Bank is expanding new financial business opportunities for overseas companies entering Southeast Asia.

On the 16th, Shinhan Bank announced that its local Japanese subsidiary SBJ Bank and its local Vietnamese subsidiary Shinhan Vietnam Bank successfully provided financial support to overseas companies entering Vietnam through collaboration within their global network.

Shinhan Vietnam Bank, through SBJ Bank's mediation, provided working capital to the Vietnamese subsidiary of Showa International, a Japanese women's clothing specialist company. The loan amount is $500,000.

SBJ Bank, noting that Japanese regional banks lack overseas networks but have many corporate clients seeking overseas expansion, decided to arrange financial support for overseas corporate clients aiming to enter Southeast Asia through Shinhan Bank’s solid Southeast Asian network in Vietnam, Cambodia, Myanmar, and other countries.

As the first case, financial support was successfully completed for the Vietnamese local subsidiary of Showa International, which transacts with Kiraboshi Bank. Kiraboshi Bank issues a guarantee letter of credit for domestic companies struggling to secure local funds in Vietnam, and Shinhan Vietnam Bank utilizes this to provide funds to the company. SBJ Bank coordinated and managed the overall transaction. This achievement was made possible through collaboration between Shinhan Bank’s global networks located in Japan and Vietnam.

Through this, Kiraboshi Bank indirectly provides financial support to its customers via Shinhan Bank’s global network, while Shinhan Bank discovers new customers and expands new business opportunities in overseas markets.

Shinhan Financial Group oversees the group’s overseas business through a global matrix involving five companies: the holding company, bank, card, financial investment, and life insurance. Shinhan Bank plans to pioneer new business models in overseas markets not only through collaboration among global networks but also through cooperation among the networks of group companies operating overseas.

A Shinhan Bank official said, "Through this financial support for overseas companies, Shinhan Bank’s successful localization strategy of its global network and proven financial capabilities have been recognized overseas. We will continue to enhance our competitiveness in overseas markets through collaboration with group companies and various overseas companies."

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