Shinhan Financial Group Co., Ltd. Expands Cooperation with Vingroup Joint Stock Company (Vingroup JSC), Vietnam's Largest Company by Market Capitalization

[Financial News] Shinhan Financial Group Co., Ltd. is strengthening cooperation with Vingroup, Vietnam's largest company by market capitalization.
Shinhan Financial Group Co., Ltd. announced on the 20th that it held a meeting with Vingroup executives at the Shinhan Bank Vietnam headquarters in Ho Chi Minh City on the 17th.
Since 2024, Shinhan Bank Vietnam has provided cumulative auto loans worth $100 million to customers purchasing vehicles from VinFast, an electric vehicle manufacturer and affiliate of Vingroup. Shinhan Vietnam Finance also provided installment financing worth 15 billion won for approximately 14,000 VinFast motorcycles in the first half of this year alone.
Through this meeting, both parties agreed to explore capital market business opportunities, such as capital and bond raising for Shinhan Investment & Securities Vietnam. They also agreed to further expand areas of cooperation, including increasing the scale and scope of business involving Shinhan Bank Vietnam and Shinhan Vietnam Finance to meet the growing demand for VinFast electric vehicles.
Shinhan Investment & Securities Vietnam has taken on the sole financial arrangement for Vingroup's first Arirang Bond (Korean won-denominated bond) issuance and has been identifying investment demand from domestic institutional investors with the goal of issuing it in the upcoming fourth quarter. In addition, Shinhan Investment & Securities plans to participate as a co-lead underwriter for the domestic bond issuance and make a direct investment worth 40 billion won.
Shinhan Financial Group Co., Ltd. Chairman Jin Ok-dong said, "Based on the transaction experience we have built with Vingroup, we will expand the scope of cooperation into various areas, including capital markets, to create new business opportunities."
Meanwhile, Shinhan Financial Group Co., Ltd. held the 'Shinhan Futures Lab Vietnam Demo Day' on this day to support domestic startups' entry into the Vietnamese market.

[email protected] Ye Byeong-jeong Reporter