Sang-Il Baek

Global Economic News

SOUTH KOREA’S leading bank Shinhan Bank has cemented itself as the No. 1 foreign bank in Vietnam.

With 41 networks in operation, Shinhan Bank Vietnam Ltd. operates the largest number of local networks by a foreign bank in Vietnam, according to commercial banks.

As of the end of 2020, Shinhan Bank has 161 overseas networks in 20 countries, with 25.4 percent of the bank’s networks concentrated in Vietnam. Shinhan Bank’s heavy overseas business concentration in Vietnam also implies that the country’s banking business is growing rapidly.

According to Shinhan Bank Vietnam, it ranks first among foreign banks in Vietnam not only in terms of the number of networks but also in financial performance with assets totaling approximately US$5.83 billion in 2020.

Since entering Vietnam in 1993, Shinhan Bank Vietnam has been contributing to the development of the Vietnamese financial market for 28 years. It acquired ANZ Bank (Vietnam) Ltd.’s retail division in 2017.