Lee Kyung-Seob, CEO of Nonghyup Bank, announced the opening of its branch in Ha Noi. — VNS Photo Minh Thu

South Korea-based Nonghyup Bank has officially opened a branch in Ha Noi after receiving an official license from the State Bank of Viet Nam.

With extensive experience and capabilities accumulated over 50 years, Nonghyup Bank will participate in the Viet Nam financial market with the full functions of a commercial bank and continue supporting the economic development of Viet Nam and activities of both countries’ businesses.

Founded in 1961 in Korea, Nonghyup is a co-operative bank with 100 percent of capital contributed by farmers and locals. Nonghyup is not only a commercial bank and but also a bank supporting agriculture policy, providing credit services for households and businesses and contributing to the Korean economy through credit financing in the field of rural agriculture. Nonghyup is currently the largest bank in Korea.

Nonghyup Bank has had a representative office in Viet Nam since 2012. At present, Nonghyup Bank is implementing several corporate social responsibility (CSR) activities to support Vietnamese brides in multicultural families while focusing on the mountainous areas of Viet Nam.

Nonghyup Bank has signed a corporation agreement with Tin Tức Newspaper (under Vietnam News Agency) to provide this publication to overseas Vietnamese living in South Korea. — VNS