Shinhan Bank Vietnam and Shinhan Finance Vietnam discuss closer cooperation with Vietnam Banks Association secretary-general

【HANOI, Vietnam — Special Correspondent Kim Jun-seok】Shinhan Bank Vietnam and Shinhan Finance Vietnam, the Vietnam-based financial affiliates of Shinhan Financial Group Co., Ltd., held a series of meetings with Vietnam Banks Association (VNBA) leaders to discuss various ways to cooperate.
According to local media reports on the 6th, Ryu Je-eun, head of Shinhan Bank Vietnam, met with Dao Minh Tu, vice chairman and secretary-general of the Vietnam Banks Association, in Ho Chi Minh City on the 2nd to discuss ways for the two sides to cooperate.
Ryu said at the meeting that Shinhan Bank Vietnam, as an affiliate of Shinhan Financial Group Co., Ltd., had continued to grow since entering Vietnam in 1993. He said that as of April 2026, Shinhan Bank Vietnam had established itself as one of 10 foreign banks licensed to operate in the country with 100% foreign ownership.
Ryu said the bank would further strengthen its support for local Vietnamese small and medium-sized enterprises (SMEs) and individual business owners, in addition to its longstanding focus on financial services for foreign direct investment (FDI) companies. “To that end, we plan to actively offer differentiated financial solutions, including working capital and business investment loans, POS payment systems, corporate cash management services (CMS), and credit cards designed for SMEs,” he said.
He also highlighted the vision of leveraging Shinhan Financial Group Co., Ltd.’s global network to connect overseas capital and international business opportunities with the Vietnamese market, while accelerating digital transformation and becoming a leading digital bank in Vietnam by 2030.
In response, Tu, secretary-general of the Vietnam Banks Association, said Shinhan Bank Vietnam had “made a significant contribution to supporting Korean companies operating in Vietnam and promoting economic cooperation between the two countries.” He also called on the bank to continue sharing its know-how and experience gained in Korea’s advanced financial market with local Vietnamese banks.
Cheon Yeong-il, head of Shinhan Finance Vietnam, also held a separate meeting with Secretary-General Dao Minh Tu in Ho Chi Minh City that day. Cheon said, “In the seven years since entering Vietnam, Shinhan Finance has expanded its business and now operates 10 branches and 29 service points nationwide, with at least 5,000 employees.”
Cheon also said that Shinhan Finance “regards Vietnam as one of its key markets” and that it would “strictly comply with Vietnamese laws and the policies and guidelines of the State Bank of Vietnam, while working with the Vietnam Banks Association and the industry to foster a transparent, safe and sustainable consumer finance market.”
He also put forward recommendations concerning certain legal regulations in the consumer finance sector. In particular, he asked that financial companies meeting stability requirements be allowed to increase consumer loan limits at different levels according to the level of leasing. The aim, he said, was to take into account consumers’ current funding needs while strictly managing the burden of principal and interest repayments relative to customers’ income. This was also a joint recommendation that the Vietnam Banks Association had compiled from several members of the Consumer Finance Club and submitted to financial authorities.
Tu welcomed Shinhan Finance Vietnam’s proposal and said, “The Vietnam Banks Association and the Consumer Finance Club will continue to pursue concrete activities and programs to support their member companies.”
[email protected] Kim Jun-seok Reporter