Meanwhile, ANZ, the third largest bank of Australia, decided to sell its retail business in Vietnam to focus on institutional banking in the growing market.
The Shinhan Bank Vietnam, a wholly-owned unit of the Shinhan Bank, hoped that the acquisition will help boost its retail banking services in the country. However, the deal still needs approval from the State Bank of Vietnam.
The Shinhan Bank Vietnam has been growing rapidly for more than 20 years in Vietnam with 18 branches and transaction offices across the country.
The Shinhan Bank has stepped up its efforts to expand its operations overseas in recent years to generate a new cash cow as it has suffered low margins and low growth in the nearly saturated RoK market.
Shinhan Bank Vietnam acquires ANZ Vietnam’s retail business have 121 words, post on en.vietnamplus.vn at 2017-04-22 09:32:43. This is cached page on Viet Maz. If you want remove this page, please contact us.
Australian lender ANZ has announced to sell its retail business in Vietnam to South Korea's Shinhan to focus resources on institutional banking. The bank has entered an agreement to transfer all eight branches, including retail staff in Hanoi and Ho Chi Minh City, to Shinhan Bank Vietnam, part of the Seoul-based Shinhan Financial Group, Farhan Faruqui, ANZ international group executive, said in a statement on Friday. Faruqui said the sale will allow the bank to focus resources on institutional banking, its “largest business in Asia.” “We will be maintaining our presence through our institutional bank in Vietnam which will continue…... [read more]
Under the deal, Shinhan Bank will become a business partner of Hanwha Life Vietnam to provide the latest insurance products to clients through Shinhan Bank’s distribution networks in Vietnam.This cooperation is expected to create a comprehensive financial services that brings more values to both parties' customers by leveraging and promoting the advantage of the two leading Korean companies.As an affiliate of Hanwha Group, one of Korea’s largest business groups, Hanwha Life Vietnam enjoys the advantage of impressive financial strength with nearly US$103 million of charter capital, management experiences and premium quality products and services.Meanwhile, Shinhan Bank - Shinhan Financial Group,…... [read more]
Under the deal, Shinhan Bank will become a business partner of Hanwha Life Vietnam to provide the latest insurance products to clients through Shinhan Bank’s distribution networks in Vietnam.This cooperation is expected to create a comprehensive financial services that brings more values to both parties' customers by leveraging and promoting the advantage of the two leading Korean companies.As an affiliate of Hanwha Group, one of Korea’s largest business groups, Hanwha Life Vietnam enjoys the advantage of impressive financial strength with nearly US$103 million of charter capital, management experiences and premium quality products and services. Meanwhile, Shinhan Bank - Shinhan Financial…... [read more]
Five banks are interested in purchasing ANZ’s retail business in Vietnam. (Photo: anz.com) Hanoi (VNA) - TheAustralia and New Zealand Banking Group (ANZ) plans to sell its Vietnam retailbusiness, a source close to the matter has told the Saigon Times Online.According to the source, three foreign and two local banks arehoping to acquire ANZ’s retail business unit in Vietnam.The Vietnam retail business will not be sold to Singapore-basedDBS Bank Ltd, the source said. DBS is not on the list of five potential buyersfor the deal.In late October 2016, DBS purchased ANZ’s retail banking andwealth management units in five Asia markets for some…... [read more]
A vibrant marketOn July 3, in Ho Chi Minh City, Vietnam International Bank (VIB) officially signed an agreement with Commonwealth Bank of Australia (CBA) to purchase all of CBA’s branch operations in the city.Han Ngoc Vu, general director of VIB, expressed his appreciation for the strategic cooperation with CBA. Meanwhile, he wished to enhance the relationship with the strategic partner so that CBA Ho Chi Minh City’s strength could be promoted after the acquisition by VIB.Also, he said that the retail banking is in the core of VIB’s business activities as it produced an annual growth rate of 25 per…... [read more]
South Korea insurer Hanwha Life Vietnam, Ltd has signed a strategic partnership deal with Shinhan Vietnam Bank SM Ltd (Shinhan Bank) for selling bancassurance products.Shinhan Bank becomes a business partner of Hanwha, and will provide the latest insurance products to clients through its network in Việt Nam.The two companies said the co-operation would create a comprehensive financial service that would bring more value to both parties' customers by leveraging and promoting the advantages of the two leading Korean companies.Back Jong Kook, chairman and general director of Hanwha Life Vietnam, said: “I believe the co-operation will help effectively exploit the great…... [read more]
HCM CITY (Biz Hub) — The South Korean Consulate General in HCM City recently signed an agreement with Shinhan Bank Vietnam over the issue of multiple-entry visas to its platinum credit card holders.The bank's platinum card holders will not be required to show their financial statements to get the South Korean visa. Other procedures will also be simplified. This is expected to enhance business and tourism co-operation between the two countries.The Shinhan Bank will provide customer services in the Vietnamese language in South Korea to help Vietnamese tourists.Shinhan Bank Vietnam (Ltd), a member company of South Korea's Shinhan Financial Group,…... [read more]
As part of the ongoing collaboration, AIA Vietnam provides the latest technologies to Shinhan Bank’s consumers in Vietnam. The goal is to create a seamless customer experience by leveraging technological innovations. “By working with AIA, a leading insurer but also a customer experience innovator with digital services capabilities, we hope to bring to Shinhan’s customers an even more complete innovative experience with insurance products and services,” said CEO of Shinhan Bank Vietnam Shin Don Min on July 4, at the launching ceremony for new digital services in Ho Chi Minh City.Similarly, Wayne Besant, CEO of AIA Vietnam, said that the…... [read more]
This is the first of the four new units the bank plans to open inVietnam this year, with the other units expected to be located in thenorth in Hanoi, Hai Phong and Thai Nguyen. ShinhanExecutive Heo Young Taeg, said the branch will serve both institutionaland individual customers and provide "a full range of services",including deposits, lending and card issuance. The bankis an affiliate of the Shinhan Financial Group and is based in Seoul. Ithas been active in Vietnam for 22 years and is headquartered in HCMCity's District 1. Shinhan Bank Vietnam has a charter capital of nearly 4.55 trillion VND,…... [read more]
ANZ Vietnam has just announced ANZ Visa debit cardholders would enjoy free cash withdrawals across the Visa network, why did the bank decide not to charge cash withdrawals at 13,000 ATMs of 19 banks as this could affect revenue of the bank? This is part of our efforts to bring greater benefits and convenience to our clients when they transact with ANZ and use the bank’s services. Specifically, for this case, ANZ Visa Debit cardholders can easily withdraw cash from 13,000 ATMs free of charge without having to come to an ANZ branch or an ANZ ATM. Greater convenience will…... [read more]