Shinhan Financial expands partnership with Vietnam's Vingroup
Shinhan Financial Group is expanding its partnership with Vietnam’s Vingroup beyond motor vehicle finance into capital markets, it said Sunday. Shinhan Financial Chairman Jin Ok-dong met with Vingroup executives Thursday at Shinhan Bank Vietnam’s headquarters in Ho Chi Minh City to discuss new areas of cooperation. Vingroup, the Southeast Asian country’s largest private company by market…
Shinhan Financial Group is set to broaden its collaboration with Vietnam's Vingroup, moving beyond vehicle finance into the realm of capital markets, the financial institution announced on Sunday. On Thursday, Shinhan Financial Chairman Jin Ok-dong held discussions with Vingroup executives at the bank's headquarters in Ho Chi Minh City, focusing on potential new areas of cooperation.
Vingroup, Southeast Asia's largest private company by market capitalization, boasts a diverse portfolio, spanning real estate and electric vehicles. So far, Shinhan's engagement with the conglomerate has primarily been through vehicle finance, notably for VinFast, the electric vehicle arm of Vingroup. Since the onset of 2024, Shinhan Bank Vietnam has extended a total of $100 million in loans to VinFast customers.
In the first half of the current year, Shinhan Vietnam Finance financed approximately 14,000 VinFast motorcycles, amounting to a cumulative financing of 15 billion won ($10.9 million). Looking ahead, the two entities aim to delve into capital market opportunities, encompassing equity and bond financing via Shinhan Securities Vietnam.
Additionally, Shinhan Bank Vietnam and Shinhan Vietnam Finance intend to amplify their vehicle finance business.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Shinhan Financial expands partnership with Vietnam's Vingroup koreatimes.co.kr
