IBK launches Vietnamese subsidiary to expand support for SMEs
Industrial Bank of Korea (IBK) officially launched its Vietnam subsidiary in Hanoi, aiming to expand financial support for Korean companies operating in the country and serve as a bridge for financial cooperation between the two countries, the state-run lender said Wednesday. The launch ceremony, held in Hanoi on Tuesday, came after the lender completed the establishment process following final…
The Korea Times reports that the Industrial Bank of Korea (IBK) has officially launched its Vietnamese subsidiary in Hanoi, with the aim of expanding financial support for Korean companies operating in the country and facilitating financial cooperation between the two nations. The launch ceremony took place on Tuesday, following the completion of the establishment process on April 30 after receiving final approval from the State Bank of Vietnam.
The subsidiary, Vietnam's 10th foreign-owned bank, will build upon IBK's existing branches in Hanoi and Ho Chi Minh City, as well as the state-run lender's extensive experience in policy financing for small and medium-sized enterprises (SMEs). IBK Vietnam Bank plans to expand its network around major industrial complexes to better serve Korean businesses operating in Vietnam and provide financing to support productive investment and economic cooperation between the two countries.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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- IBK launches Vietnamese subsidiary to expand support for SMEs koreatimes.co.kr
