Asserting its credibility in the capital market, Shinhan Finance has successfully mobilized syndicated offshore loan 40 million USD

Recently, Shinhan Vietnam Finance Company Limited (Shinhan Finance) has announced the successful closing of a 2-year syndicated offshore loan facility worth USD 40 million with Sumitomo Mitsui Banking Corporation (SMBC) Singapore Branch and WOORI Bank Singapore Branch. This syndicated loan facility contributes to supplement working capital at Shinhan Finance and at the same time expanding its financial capacity to meet the financial needs of Vietnamese consumers.

SMBC Singapore Branch acted as Mandated Lead Arranger and Bookrunner in entering into the loan agreement and acted as the facility agent for this syndicated loan.

According to Refinitiv, across 2016 to 2023, USD denominated facilities comprised the majority of offshore club and syndicated loan volumes in Vietnam, where it was the sole currency issued in 2023. In 2023, offshore club and syndicated loans issued by companies from the financial services sector (approximately 44%) continued to drive bulk of the borrowings.

Mr. Chun Young ILL, General Director of Shinhan Finance, said: "This syndicated offshore loan will serve as the foundation for Shinhan Finance to enhance the financial capability, strengthen our business, and operate the enterprise in the context of Vietnam's economy gradually recovering and returning to growth. Through this cooperation, Shinhan Finance will continue to consolidate its position as the leading Korean financial company in Vietnam. In particular, the cooperation between Shinhan Finance and SMBC Singapore Branch and WOORI Bank Singapore Branch also demonstrates the company's credibility in the Asian capital market and the trust of international financial institutions in the results of its operations and business model, as well as the long-term vision and growth strategy of Shinhan Finance."

Along with the recovery of the domestic economy, the Vietnamese consumer finance market is expected to grow in 2024. Shinhan Finance is now strengthening its presence, mobilizing resources to be ready for breakthrough development in business activities in the upcoming periods.

About Shinhan Finance:

Shinhan Vietnam Finance Company Ltd. (Shinhan Finance), a member of Shinhan Card (Korea). With the know-how in financial products and 17 years’ experience of the Company in Vietnam financial consumer market, Shinhan Finance will be the best customer-oriented Finance Company in Vietnam.

With the widespread business network nationwide, the company has the capability to serve customers with flexible financial solutions, enabling our customers to fulfill their dreams and enhance their living standards. We are highly honored to serve nearly one million of Vietnamese customers and more and more customers have trust in using the company’s services. We will continue to develop our strength, improve service quality as well as ensure credit management quality and risk management, committing to become a transparent and reliable financial company in the Vietnamese market with mission “Compassionate finance”.

More information about Shinhan Finance: www.shinhanfinance.com.vn

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About SMBC:

Headquartered in Tokyo, Sumitomo Mitsui Banking Corporation (SMBC) is a leading global financial institution and a core member of Sumitomo Mitsui Financial Group (SMBC Group).

SMBC is one of the largest Japanese banks by assets, with over ¥238,700 billion in total assets and has global integrated network spanning 39 countries and territories, 15 of which are here in the region. Our regional reach extends from corporate and institutional companies to individual customers in Indonesia, India, Vietnam and the Philippines. We work closely as one SMBC Group to offer personal, corporate and investment banking services to meet the needs of our customers.

With sustainability embedded within our strategy and operations, we are committed to creating a society in which today’s generation can enjoy economic prosperity and well-being and pass it on to future generations.

To learn more, visit: www.smbc.co.jp/asia