Public Bank Vietnam (PBVN), a wholly-owned subsidiary of Malaysia’s Public Bank Bhd, secured approval from the State Bank of Vietnam (SBV) in early July to open three additional branches and two more transaction offices this year in Hanoi, Ho Chi Minh City, and Da Nang, bringing its branch numbers in the country to 19. The move is in line with its aim of expanding its network and customer reach in Vietnam, and a growing number of other foreign players are also looking to capture the wealth of opportunities in the country’s banking sector, with South Korean banks leading the charge. South Korean lenders have been eagerly expanding their foothold in the country. Woori Bank received licenses from the SBV in June to open five more branches in northern and southern cities together with a transaction office in Ho Chi Minh City’s District 7. Shinhan Bank, meanwhile, opened four branches and transaction offices in Ho Chi Minh City and Hanoi in May, beefing up its … [Read more...] about Local banking appeal broadens
Woori bank online banking
Since using this modern payment application, my life has positively changed. As a person who was always cautious of managing money, I used to trusted in cash payment only. However I have changed my payment habit. It is now only with a cellphone, all of my ATM cards and membership cards are fully integrated with Samsung Pay, and above all others, it is still absolutely secured. Have you ever experienced the feeling of regretfully looking at your favorite items sold to somebody else, or how embarrassing it is when your money is not enough to pay for a coffee bill? Having gone through all of these, I shall share a tip to stay away from these troubles. The strong need of e-payment solution In the past, I only trust in things that I was sure of. Especially, I was very cautious of what I considered to be risky like crediting all my money to cards. It was partly due to my habits, and partly due to the obsession with the ATM card theft, I was not so interested in card payment. That was why … [Read more...] about How did my cash payment habits change?
In the wake of the massive FDI influx from South Korea, the country’s banks are venturing further into Vietnam’s promising financial market, Photo: Le Toan Banks see the potential The domestic economy has grown tremendously over the past few years, with South Korean direct investment in 2017 standing at $3.97 billion in registered capital, second only to Japan, according to the General Statistics Office. As a logical consequence, South Korean financial institutions have increasingly gained footholds in Vietnam to cater to the financial needs of foreign direct investment (FDI) businesses and investors. Nine banks including two local corporations and seven branches or representative offices, five securities firms, two leasing companies, and three finance companies from South Korea have so far joined the local banking and finance landscape. The past year saw an upturn in the presence and operation of South Korean financial institutions in Vietnam, evident in wholly … [Read more...] about South Korean banks entering Vietnam in wake of FDI surge