Bang Seong-bin – Chairman of the Board of Directors and CEO of Busan Bank and Ngô Thu Hà -CEO of SHB exchanged the MoU. — Photo courtesy of SHB

SHB on Tuesday signed a Memorandum of Understanding (MoU) with Busan Bank under BNK Financial Group of South Korea, officially establishing a comprehensive collaborative partnership between the two credit institutions, focusing on corporate, digital and investment banking.

Under this MoU, SHB and Busan Bank would take full advantage of each bank’s potential customers; SHB’s reputation, market position and local market insight; and the strong finance, and extensive South Korean and global business network of Busan Bank and BNK Financial Group.

The two banks will explore potential investment opportunities in corporate bonds, especially green bonds distributed by SHB, to diversify revenue streams and provide more sustainable financial solutions for their customers.

SHB and Busan Bank will also focus on loans to corporate customers, investment banking deals and related services. Busan Bank and BNK Financial Group express keen interest in the possibility of syndicated loans in energy, agriculture, manufacturing and asset management. Co-operation between SHB and Busan Bank promises to attract more capital from South Korea and international markets.

In addition, the two banks placed great emphasis on promoting digital banking initiatives related to information security, omni-channel sales, digital transaction counters, data warehouse, and enhanced digital customer experiences as digital banking plays a pivotal role in both banks’ strategic goals.

Đỗ Quang Hiển, Chairman of the Board of Directors of SHB, believed that the collaboration between SHB and Busan Bank would push forward the cooperation between Vietnamese and South Korean businesses. — Photo courtesy of the bank

Đỗ Quang Hiển, Chairman of the Board of Directors of SHB, said: “Putting customers at the centre, SHB’s mission is to connect local and international businesses, and entrepreneurs. In the spirit of cooperation and mutual trust, SHB and Busan Bank will promote co-operation 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 Việt Nam and South Korea.”

Ngô Thu Hà, CEO of SHB, said that expanding co-operation with Busan Bank, one of the leading and long-standing banks in South Korea, would help SHB better serve South Korean investors and businesses that are and will do business in Việt Nam. Signing this MoU with Busan Bank demonstrates a new development mark, enhancing SHB’s competitive edge and affirming its 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,” she added.

With appreciation for Việt Nam and SHB, Bang Seong-bin, Chairman of the Board of Directors and CEO of Busan Bank, said: “As the great President Hồ Chí 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 Việt Nam in general.”

Collaboration between SHB and Busan Bank in the coming time is expected to set a role model for extensive cooperation between financial institutions of Việt Nam and South Korea, contributing to comprehensive financial services distribution channels and bringing more added values to customers of both Parties. At the same time, this cooperation will positively affect Vietnamese finance and banking markets, 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 co-operated with many global organisations and businesses, as well as being partners of many international organisations such as the World Bank, ADB, IFC, KfW and JICA to implement projects worth billions of dollars on the journey to becoming the top bank in terms of efficiency and technology among commercial banks in Việt Nam by 2027 and in vision 2035 of becoming the leading regional retail bank. — VNS