The opening of Shinhan Phu My branch at KNG commercial centre, Phu My Ward, Phu My Town, Ba Ria – Vung Tau Province. — Photo courtesy of the bank

The opening of Shinhan Phu My branch at KNG commercial centre, Phu My Ward, Phu My Town, Ba Ria – Vung Tau Province. — Photo courtesy of the bank

Shinhan Bank has opened a branch in Ba Ria – Vung Tau Province’s Phu My Town, taking its total number of branches in the country to 37.

Phu My hopes to develop industry, seaports and logistics to become one of the leading port cities in Southeast Asia by 2030.

This will make it attractive to international investors, and their arrival in turn is likely to offer the Korean bank lucrative business opportunities.

At the inaugural ceremony, the lender awarded scholarships worth a total of VND60 million to 60 underprivileged students in the town through the National Funds for Vietnamese Children.

A bank executive said: “We are proud of being the first foreign bank in Phu My Town, an area with strong economic development potential in the southeast of Viet Nam.

“With the opening of the branch, Shinhan Bank will support FDI growth in Phu My.” — VNS