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BUSINESS SPOTLIGHT

Broad network

Released at: 16:19, 18/04/2017 What's on

Broad network

Photo: Shinhan Bank

On March 25, Shinhan Bank, the leading bank in South Korea, received a Golden Dragon Award 2016 for its superior services. This was the fifth consecutive year Shinhan Bank has won a Golden Dragon Award.

by VET Corespondent

Since arriving in Vietnam in 1993, Shinhan Bank Vietnam has built a broad network covering many cities and provinces with 18 branches and transaction offices; the largest network of a foreign bank in the country.

It recorded successful business results in 2016. Total assets reached VND55,227 billion ($2.42 billion), an increase of 31 per cent compared with 2015, while total profits rose 14 per cent. After more than two decades of unremitting effort, Shinhan Bank Vietnam has grown strongly with its “3T” advantages: Trustable, Transparent, and Transactions.

Trusted partner 

With a leading position among South Korean enterprises, Shinhan Bank has continuously strengthened and improved the corporate banking business in Vietnam. The number of Vietnamese companies with loans from Shinhan Bank accounts for more than 50 per cent of its corporate customers accessing loans. Shinhan Bank’s major advantages are strong financial capital and significant investment on both technology and human resources. As a subsidiary of Shinhan Bank - the leading bank in South Korea - Shinhan Bank Vietnam inherited and developed a state-of-the-art technology platform with information security.

Based on this, products developed by Shinhan Bank Vietnam aim to reach the highest standards possible, including Firm Banking - a direct data connection from companies to the bank, which guarantees all transmitted information is completely secure and done within the shortest time possible. With UPAS, vendors receive money right away even when buyers make late payments and importers still get capital in foreign currencies at competitive interest rates.

It can be confidently said that all corporates can enjoy high-class South Korean-standard quality services customized to their needs, environment and business methods when choosing Shinhan Bank as their trusted partner in Vietnam.    

Attractive interest rates and convenient e-banking services

In retail banking, Shinhan Bank Vietnam provides consequential solutions to increase asset value and support customers to achieve their dreams of owning houses, cars, or equipment for their work, making their lives easier. Even though Shinhan Bank has only focused on developing individual financial services for three years, its market share has increased impressively. This is a great result stemming from attractive interest rates along with the development of product procedures, proof of income documents, and repayment plans, etc., that suit the features of the Vietnamese market. Individual customers who have housing loans from Shinhan Bank can access favorable interest rates fixed at just 7.2 per cent per annum in the first year and 8.3 per cent per annum for three years. Shinhan also supports customers who purchase apartments and houses in various projects, including Phu My Hung, Nam Long, Keppel Land, and Capital Land Mulberry Hanoi.

Moreover, Shinhan Bank focuses on developing e-banking services. Customers can now easily and conveniently make bank transfers, conduct online smart savings, make online bill payments, and register for loans or apply for cards with 24/7 Internet Banking/Mobile Banking. In particular, Shinhan Bank recently launched Realtime Inward Overseas services, which allow customers in Vietnam to receive inward remittances from South Korea in both VND and USD.

Doing business together with corporate social responsibility

Not only making great efforts in its business activities, Shinhan Bank always upholds a spirit of responsibility towards the community, with a wide range of practical and meaningful corporate social responsibility (CSR) activities. Besides cooperating with the 3M Skill Club to hold programs to deliver gifts and bring entertainment activities to the poor at Tet and other holidays, Shinhan Bank has also donated bicycles to kids in difficult circumstances, cooked charity meals, and arranged blood donations days, among many other social activities. The focus on creating sustainable development for the economy and the community is a long-term commitment to Vietnam’s economy from Shinhan Bank. These outstanding successes continue to emphasize the bank’s solid position in Vietnam and has taken it towards becoming one of the leading banks in the market. 

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