Shinhan Vietnam Bank Opens Can Tho Branch "Establishing Network in Vietnam's 5 Major Cities"

Establishing First Korean Bank Branch in Can Tho City to Build Network in Vietnam's Top 5 Cities
Holding the Largest Network of 38 Foreign Bank Branches, 3 More Branches to Open by Year-End

At the opening ceremony held on the 8th at Shinhan Vietnam Bank Can Tho Branch in Can Tho City, Mekong Delta region, southern Vietnam, Shinhan Vietnam Bank CEO Dongmin Shin (first from the left), Consul Won Tae Kim of the Ho Chi Minh Consulate General (fourth from the left), Duong Tan Hien, Vice Chairman of the Can Tho People's Committee (fifth from the left), and other officials posed for a commemorative photo.

[Asia Economy Reporter Kangwook Cho] Shinhan Bank's local subsidiary in Vietnam, Shinhan Vietnam Bank, announced on the 12th that it has opened its 38th branch in Can Tho City, located in the Mekong Delta region of southern Vietnam.

Can Tho is one of Vietnam's top five economic cities and the central municipality of the southern Mekong Delta region. It is an area with a rich labor force of 18 million people and continuous development of roads, ports, and other infrastructure, leading to increasing Korean investments. Recently, with the establishment of the 2030 Mekong Delta Development Plan, the region is accelerating its economic growth and is considered one of the most promising areas for development in Vietnam.

The opening ceremony was held simply while strictly adhering to the Vietnamese government's social distancing guidelines. It was attended by key officials including Shin Dong-min, head of Shinhan Bank Vietnam, representatives from the Ho Chi Minh Consulate General, the Korean Business Association, the Can Tho People's Committee, and the State Bank of Vietnam, as well as customers. During the ceremony, scholarships were directly awarded to local students selected by the State Bank of Vietnam.

Shinhan Vietnam Bank has opened two branches this year, bringing its total network to 38 branches?the largest among foreign banks?with 22 branches in southern Vietnam centered around Ho Chi Minh City, 15 branches in northern Vietnam centered around Hanoi, and one branch in central Vietnam centered around Da Nang. Notably, it is the first Korean bank to open a branch in Can Tho, thereby establishing the Shinhan network in all five major Vietnamese cities (Hanoi, Ho Chi Minh, Hai Phong, Da Nang, and Can Tho).

A Shinhan Bank official stated, "Despite the challenging environment due to COVID-19, with the active support of the Korean Embassy in Vietnam, the Consulate General, the Financial Services Commission, and the Financial Supervisory Service, we were able to successfully open the Can Tho branch. Including the Phu My and Can Tho branches opened this year, we plan to open a total of five branches by the end of the year."

Meanwhile, in September, Shinhan Vietnam Bank pioneered new customer segments in Vietnam through a three-party collaboration among Shinhan Vietnam Bank, the Japanese local subsidiary SBJ, and the Japanese Kiraboshi Bank, successfully providing financial support. Additionally, this year, Shinhan Vietnam Bank signed an MOU with Mekong Capital, Vietnam's first private equity fund management company, to promote new business initiatives and strengthen its entry into local investment finance, offering differentiated financial services.

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