A New Stride Of Shinhan Financial Group In Affirming Its Sustainable Bonding Commitment In Vietnam
Ho Chi Minh City – August 15th, 2024 is an important milestone that subsidiaries of Shinhan financial ecosystem in Vietnam officially moved to a new common building. This is considered as a new stride in the journey of developing and sharing prosperity of Shinhan Financial Group with Vietnam’s market, towards the mission of “A better world through finance”.
Accordingly, the diverse Shinhan financial ecosystem in Vietnam, which includes five subsidiaries: Shinhan Bank, Shinhan Finance, Shinhan Life, Shinhan Securities and Shinhan DS, was officially relocated at The Mett Building of Thu Thiem New Urban Area, Thu Duc City. Thu Thiem is planned to become Vietnam's major financial center, focusing on the Fintech model and digital banking, and will serve as a magnet for investors in the infrastructure, commercial, and service sectors, from Government plans.
The Shinhan Financial Group’s journey of sustainable bonding and development in Vietnam’s market began in 1993 when Shinhan Bank – one of Shinhan Financial Group Korea’s subsidiaries established its representative office in Ho Chi Minh City. After more than 30 years of establishment and development, Shinhan Bank has affirmed its solid position in Vietnam’s market and successfully built up the image of “A foreign bank for Vietnamese people”, as well as became a trusted financial partners accompanying million customers.
In addition to the banking sector, in 2015, Shinhan Securities (Korea) acquired Nam An Securities Company and established Shinhan Securities, marking solid strides in the Vietnam’s stock market. In 2018, Shinhan DS – a company with advanced information technology of Korea presented in Vietnam. Entering 2019, Shinhan Finance officially became a member of Shinhan financial ecosystem in Vietnam through Shinhan Card Korea’s acquisition of Prudential Finance Company. With the presence of Shinhan Finance, Shinhan could further expand its consumer financial service sector. In 2021, Shinhan Life was granted to establish and operate by Ministry of Finance, completing the 05 subsidiaries in Vietnam, connecting and towards a joint target in building a “More friendly, More secured, More creative” financial ecosystem.
Towards the future, Vietnam is still one of potential markets that Shinhan Financial Group desires of conquering, where has favorable conditions for development in the financial and banking industry, as well as friendly policies of the Government towards foreign enterprises. Therefore, the reunion of subsidiaries at the new building demonstrates “One Shinhan” spirit of Shinhan financial ecosystem in Vietnam, in order to enhance overall strength, build up a diversified and sustainable financial ecosystem, optimally meeting demand of different customer segments. Simultaneously, it once again affirms Shinhan Financial Group’s sustainable bonding commitment to Vietnam’s market in the next stage.
Representative of Shinhan Financial Group stated: “The reunion of 5 subsidiaries of Shinhan financial ecosystem in Vietnam in a common building creates a stronger connection. This is more than just a geographical change, but also carry the meaning of unity of our vision and the creation of diverse financial ecosystem, and is commitment of Shinhan Financial Group in striving to bring to customers more comprehensive and creative financial services, contributing to the development of Vietnam’s financial industry”.
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ABOUT SHINHAN FINANCIAL GROUP
Shinhan Financial Group (SFG) is the leading financial group in Korea established on the platform of Shinhan Bank Korea (SHBKR), Shinhan Investment Fund and Shinhan Investment Management Company. SFG is listed on the Korea Exchange (KRX) and New York Stock Exchange (NYSE). Until now, SFG has 15 direct and 33 indirect subsidiaries, operating in 20 countries. Both SFG and SHBKR have been named domestic systemically important banks (D-SIBs) by the Financial Services Commission for 2025.
Business strategy of SFG is to provide customers with diversified, convenient and worthy services through specialized and effective allocation. Besides, the Group has constantly strived to diversify business scope, as well as updated the latest financial technologies to become the leading financial group in the world.
The Shinhan financial ecosystem in Vietnam includes 5 subsidiaries: Shinhan Bank Vietnam, Shinhan Finance Vietnam, Shinhan Securities Vietnam, Shinhan Life Vietnam and Shinhan DS Vietnam. With One Shinhan spirit, SFG desires of building a “More friendly, More secured and More creative” financial ecosystem in Vietnam’s market through general strength of subsidiaries, thereby completing the mission of “A better world through finance”.
