Shinhan Vietnam Bank Opens Phu My Branch in Ba Ria-Vung Tau Province, Southern Ho Chi Minh

At the opening ceremony held on the 23rd at Shinhan Vietnam Bank Phu My Branch in Ba Ria-Vung Tau Province, Vietnam, Shinhan Vietnam Bank CEO Dongmin Shin (first from the left), Korean Business Association President Heungsu Kim (third from the left), Consul Won Tae Kim of the Ho Chi Minh Consulate General (fourth from the left), Deputy Branch Manager Tran Thien Tri of the State Bank of Vietnam Vung Tau Branch (sixth from the left), and other officials posed for a commemorative photo.

[Asia Economy Reporter Kim Min-young] Shinhan Bank's local subsidiary in Vietnam, Shinhan Vietnam Bank, announced on the 24th that it has opened its 37th branch, the Phu My branch, in Ba Ria-Vung Tau Province, located in the southeastern region of Ho Chi Minh City, Vietnam.

Ba Ria-Vung Tau Province is adjacent to Ho Chi Minh City, the economic hub of Vietnam, and Dong Nai Province, an industrial area. With excellent maritime transport accessibility, recent investments have focused on heavy chemical industries, making it a region expected to see increased direct investment from foreign companies.

The opening ceremony was attended by Shin Dong-min, head of Shinhan Bank's Vietnam branch, as well as key officials from the Consulate General in Ho Chi Minh City, the Korean Business Association, the National Unification Advisory Council, the State Bank of Vietnam, and customers. Due to the COVID-19 situation, the event was conducted simply while strictly adhering to the Vietnamese government's social distancing guidelines. Additionally, scholarships were directly awarded to local students selected by the State Bank of Vietnam during the ceremony, receiving great acclaim from attendees.

A Shinhan Bank official stated, “With the active support of the Korean Embassy in Vietnam, the Consulate General, the Financial Services Commission, and the Financial Supervisory Service, we have successfully completed the establishment of the Phu My branch,” adding, “We plan to add a total of five branches, including the Phu My branch, within this year.”