On October 16 afternoon in Hanoi, Saigon – Hanoi Bank (SHB) signed a Memorandum of Understanding (MOU) with Busan Bank under BNK Financial Group of Korea, officially establishing a comprehensive collaborative partnership between the two credit institutions, especially in corporate banking, digital banking and investment banking.
As per this MOU, SHB and Busan Bank shall take full advantage of each bank’s potential customers; SHB’s reputation, market position and local market insight; strong finance, extensive Korean and global business network of Busan Bank and BNK Financial Group.
The two banks will explore potential investment opportunities in corporate bond, especially green bonds distributed by SHB, to diversify revenue streams and provide more sustainable financial solutions for customers of both sides.
SHB and Busan Bank will also focus on loans to corporate customers, investment banking deals and related services. Busan Bank in particular and BNK Financial Group in general express keen interest in the possibility of syndicated loans in energy, agriculture, manufacturing, asset management… . Cooperation between SHB and Busan Bank promises to attract more capital from Korea and international markets.
In addition, the two banks placed great emphasis on promoting digital banking initiatives related to information security, Omnichannel sales, digital transaction counters, data warehouse, enhanced digital customer experiences as digital banking plays a pivotal role in both banks’ strategic goals
Mr. Do Quang Hien – Chairman of the Board of Directors of SHB highly appreciated the collaboration with Busan Bank. “Putting customers at the center, SHB’s mission is to connect both local and international businesses and entrepreneurs. In the spirit of cooperation and mutual trust, SHB and Busan Bank will promote cooperation and trade among small and medium-sized enterprises of the two countries, delivering benefits to the two banks while contributing to the development of trade between Vietnam and Korea.” emphasized Chairman Hien.
Ms. Ngo Thu Ha – CEO of SHB said that expanding cooperation with Busan Bank – one of the leading and long-standing banks in Korea shall help SHB better serve Korean investors and businesses that are and will do business in Vietnam. Signing this MOU with Busan Bank demonstrate a new development mark, enhancing competitive edge and affirming SHB’s reputation both in the domestic and international financial markets.
“We believe that with a long history, strong and stable financial potential, SHB and Busan Bank will share experiences and support each other in many fields such as growing corporate customers, sharing information technology expertise, developing digital banking services, enhancing competitiveness and providing customers of both sides with products and services of international standards”, stated CEO Ha.
With appreciation for Vietnam and SHB, Mr. Bang Seong-bin – Chairman of the Board of Directors and CEO of Busan Bank shared that ” As the great President Ho Chi Minh said “Unchanged principles can handle any changes”, I hope that SHB and Busan Bank, with their unwavering belief, will be able to handle all changes and become long-lasting business partners. In the coming time, Busan Bank will continue to expand investment and support for SHB in particular and Vietnam in general.”
Collaboration between SHB and Busan Bank in the coming time will be expected to set a role model for extensive cooperation between financial institutions of Vietnam and Korea, contributing to comprehensive financial services distribution channel and bringing more added values to customers of both Parties. At the same time, this cooperation shall positively affect Vietnamese finance and banking market as well as the wave of investment into the Vietnamese market.
With the desire to bring diversified and outstanding financial products and solutions to customers, SHB has cooperated with many global organizations and businesses as well as being partners of many international organizations such as the World Bank, ADB, IFC, KfW, JICA…. to implement projects worth billions of dollars on the journey of becoming the top bank in terms of efficiency and technology among commercial banks in Vietnam by 2027 and in vision 2035 of becoming the regional leading retail bank.