Shinhan Bank Honored with “Fastest Growing Corporate Bank Vietnam 2023” Award

Shinhan Bank Vietnam Limited (Shinhan Bank) was honored by Global Banking and Finance Review Magazine (“GBAF”) in the categories of “Fastest Growing Corporate Bank Vietnam 2023”.

GBAF is the UK's most respected international publication, offering an independent perspective and general information to the international banking and financial community, with a large readership worldwide of over 7.4 million page views annually. The Global Banking and Finance Awards 2023 attracted the participation of many leading banks and financial institutions in the Asia-Pacific region, evaluated based on a comparison of the top candidate banks from each country.

According to the evaluation board, this award recognizes Shinhan Bank's excellent growth in corporate business despite the challenging global economy in general and Vietnam in particular. Specifically, just within the 3-year period from 2020-2023, Shinhan Bank has achieved remarkable growth of more than 40% in corporate asset value. In addition, Shinhan Bank has been proactively accompanying more than 16,000 local corporate customers, accounting for more than 55% of total corporate loan assets at Shinhan Bank. This number strongly proves Shinhan Bank’s commitment and determination to the goal of becoming a "Friendly Bank" that always supports the growth of local businesses.

With the aim of focusing on the “green” factor in credit granting activities, Shinhan Bank has always been constantly building and upgrading internal policy forwards efficient environmental risk management. In early 2021, Shinhan Bank launched the “Green Credit Loan Package” for medium and long-term loans with very favorable interest rates to support enterprises investing in low-carbon emission projects. At the present time, the outstanding balance of “green projects” is taking a stable part and continues to grow rapidly.

In terms of interest support, Shinhan Bank has continuously updated and promptly adjusted VND and USD loan interest rates for corporate customers who have loans with the bank, as well as actively developing the 2% interest rate support program - one of the Government's key business support programs in Decree 31/2022/ND-CP to assist customers in supplementing investment capital, recovering and expanding business activities.

In 2023, Shinhan Bank also expects to launch new customized corporate products and services meeting the various needs of corporate customers. In which, the highlight is the “Account Service Package” with comprehensive preferential fees applied for Corporate customers using various products, and services at Shinhan Bank. In addition, in order to increase convenience in transactions among Bank & Customer, new service such as “Online application/approval for trade and loan” is coming soon with the aim to bring a digital/paperless experience to customers.

Mr. Lee Han Byeol, Deputy General Director of Shinhan Bank, stated: “This is the first time Shinhan Bank has received the award "The fastest growing corporate bank in Vietnam", which recognizes the bank's ongoing efforts in always pioneering the deployment of optimal product priorities combined with digital transformation technology for corporate customers, allowing us to accompany, support, and develop with corporate customers in each volatile period of the economic. This recognition not only celebrates Shinhan Bank's excellent growth in the corporate business segment but also highlights the bank’s long-term commitment to the market over 30 years in Vietnam."

LA (Vietnam Business Forum)