Shinhan Bank

Shinhan Bank Co., Ltd.
Native name
주식회사 신한은행
Company typeSubsidiary
IndustryFinancial services
PredecessorChohung Bank
FoundedFebruary 1897; 127 years ago (1897-02)
Headquarters20, Sejong-daero 9-gil, Jung-gu,
Seoul
,
South Korea
Area served
Worldwide
Products
ParentShinhan Financial Group
WebsiteShinhan Bank
Korean name
Hangul
신한은행
Hanja
新韓銀行
Revised RomanizationSinhan Eunhaeng
McCune–ReischauerSinhan Ŭnhaeng

Shinhan Bank Co., Ltd. (Korean: 주식회사 신한은행; RR: Jusikhoesa Sinhan Eunhaeng) is a bank headquartered in Seoul, South Korea. It was founded under that name in 1982, but through its merger with Chohung Bank in 2006, traces its origins to the Hanseong Bank (est. 1897), one of the first banks to be established in Korea. It is part of the Shinhan Financial Group, along with Jeju Bank. As of June 30, 2016, Shinhan Bank had total assets of ₩298.945 trillion (equivalent to ₩304.658 trillion or US$269.507 billion in 2017)[1] , total deposits of ₩221.047 trillion (equivalent to ₩225.271 trillion or US$199.28 billion in 2017)[1] and loans of ₩212.228 trillion (equivalent to ₩216.283 trillion or US$191.329 billion in 2017)[1]. Shinhan Bank is the main subsidiary of Shinhan Financial Group (SFG).[2]

History

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With capital provided by Korean businessmen residing in Japan,[3]: 60  Lee Hee-gun founded Shinhan Bank on 7 July 1982 as a small venture with a capital stock of KRW 25.0 billion, 279 employees, and three branches; Kim Se-chang became its first president.[4] In August 2003, Shinhan Financial Group acquired more than 80 percent of shares in Chohung Bank, the successor entity of Hanseong Bank founded in 1897, and raised its stake to 100 percent in June 2004. At the time, Shinhan and Chohung were respectively fourth- and fifth-largest by assets in Korea's banking market, and their combination created the country's second-largest banking group,[5] behind Kookmin Bank and ahead of Woori Bank and Hana Bank.[6] On 1 April 2006, Shinhan Bank and Chohung Bank merged into a single legal entity. Because of the prestige associated with Chohung Bank's history, the transaction was engineered so that it was Chohung that absorbed Shinhan and subsequently renamed itself Shinhan Bank.

In March 2013, the Financial Services Commission of South Korea said that Shinhan Bank reported that its Internet banking servers had been temporarily blocked.[7] The South Korean government asserted a North Korean link in the March cyberattacks, which has been denied by Pyongyang.[8][9]

In Vietnam

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Shinhan Bank Vietnam branch head office currently located at The MeTT Building (left one) in 15 Trần Bạch Đằng Street, Thủ Thiêm, Thủ Đức

Shinhan officially established its Ho Chi Minh City branch in December 1994, becoming the first Korean bank to establish a branch in Vietnam.[10][11][12] In the 2008-2009 period, Shinhan Bank was licensed to become one of the five banks with 100% foreign capital.[13][14] In 2011, the bank merged with Shinhan Vina Bank to become Shinhan Vietnam Bank - the foreign bank with the highest charter capital at the time.[15][16][17] In 2017, Shinhan Bank acquired the retail segment of ANZ Vietnam Bank.[18][19] In early 2020, Shinhan Vietnam Bank was rated BBB (stable) in the long term by international credit rating agency Standard & Poor's (S&P).[20][21][22][23] According to S&P's assessment, Shinhan Vietnam Bank plays an indispensable role in Shinhan Financial Group's (Shinhan Financial Group - SFG) global business expansion goals.[24][25][26] At the same time, in November 2020, Shinhan Vietnam Bank officially announced the implementation of Basel II Pillar 2 on capital adequacy assessment processes.[27][28][29]

See also

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References

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  1. ^ a b c 1906 to 1911: Williamson J. (1999), Nominal Wage, Cost of Living, Real Wage and Land Rent Data for Korea 1906-1939 1912 to 1939: Mizoguchi, T. (1972). Consumer Prices and Real Wages in Taiwan and Korea Under Japanese Rule. Hitotsubashi Journal of Economics, 13(1), 40-56. Retrieved May 21, 2021. Afterwards, consumer price index from Statistics Korea. Consumer Price Index by year. Retrieved 3 April 2018
  2. ^ "Shinhan Bank". www.relbanks.com.
  3. ^ Byung-sun Choi (1991), "The Politics of Financial Control and Reform in Korea" (PDF), Korean Journal of Policy Studies (6): 41–73
  4. ^ "The Birth of Shinhan Bank". Shinhan Financial Group.
  5. ^ "Form 20-F: Shinhan Financial Group Co., Ltd". U.S. Securities and Exchange Commission. 30 June 2005.
  6. ^ "Ranking of Korean Banks by Total Assets, Net Loans, and Total Deposits: (as of 12/31/04)". AsianBanks.net.
  7. ^ Choe Sang-Hun, "Computer Networks in South Korea Are Paralyzed in Cyberattacks", The New York Times, 20 March 2013.
  8. ^ Lee Minji (April 10, 2013). "(2nd LD) Gov't confirms Pyongyang link in March cyber attacks". Yonhap News. February 25, 2008 - Shinhan Bank Kazakhstan JSC was registered (License for banking and other operations No. 1.1.258 dated November 28, 2008), and currently, Shinhan Bank Kazakhstan JSC carries out banking operations both in the currency of the Republic of Kazakhstan and in foreign currency. License of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market No. 1.1.258 dated 03.02.2020.
  9. ^ Shinhan Bank in Kazakhstan, finances, licenses, risk factors
  10. ^ Trí, Dân (2023-08-21). "Hành trình 30 năm nâng tầm giá trị tại Việt Nam của Ngân hàng Shinhan". Báo điện tử Dân Trí (in Vietnamese). Retrieved 2024-01-30.
  11. ^ VnExpress. "30 năm phát triển của ngân hàng Shinhan tại Việt Nam". vnexpress.net (in Vietnamese). Retrieved 2024-01-30.
  12. ^ "Ngân hàng Shinhan kỷ niệm 30 năm tại Việt Nam-hành trình lan tỏa tài chính ấm áp". Tin nhanh chứng khoán (in Vietnamese). 2023-08-21. Retrieved 2024-01-30.
  13. ^ "Shinhan: 30 năm đồng hành cùng thị trường Việt". Tin nhanh chứng khoán (in Vietnamese). 2023-06-13. Retrieved 2024-01-30.
  14. ^ "Ngân hàng Shinhan Việt Nam kỷ niệm 30 năm có mặt tại Việt Nam". Vietnam Business Forum – Liên đoàn Thương mại và Công nghiệp Việt Nam. 2023-08-21. Retrieved 2024-01-30.
  15. ^ "Ngân hàng Shinhan kỷ niệm 30 năm tại Việt Nam-hành trình lan tỏa tài chính ấm áp". Tin nhanh chứng khoán (in Vietnamese). 2023-08-21. Retrieved 2024-01-30.
  16. ^ "Shinhan: 30 năm đồng hành cùng thị trường Việt". Tin nhanh chứng khoán (in Vietnamese). 2023-06-13. Retrieved 2024-01-30.
  17. ^ admin, beta (2011-11-28). "Shinhan Vietnam Bank hoàn tất việc sáp nhập". Tạp chí Kinh tế Sài Gòn (in Vietnamese). Retrieved 2024-01-30.
  18. ^ "ANZ nhượng mảng bán lẻ tại Việt Nam cho Ngân hàng Shinhan". TUOI TRE ONLINE (in Vietnamese). 2017-04-21. Retrieved 2024-01-30.
  19. ^ VnExpress. "ANZ nhượng mảng bán lẻ tại Việt Nam cho Ngân hàng Shinhan". vnexpress.net (in Vietnamese). Retrieved 2024-01-30.
  20. ^ "Ngân hàng Shinhan Việt Nam nhận bằng khen thành tích xuất sắc về chuyển đổi số từ Ngân hàng Nhà nước". Tin nhanh chứng khoán (in Vietnamese). 2023-05-22. Retrieved 2024-01-30.
  21. ^ thitruongtaichinhtiente.vn (2020-12-14). "Ngân hàng Shinhan được vinh danh trong Top 100 doanh nghiệp bền vững Việt Nam năm 2020". thitruongtaichinhtiente.vn (in Vietnamese). Retrieved 2024-01-30.
  22. ^ Nam, Thời báo Tài chính Việt. "Ngân hàng Shinhan: Top 100 doanh nghiệp bền vững tại Việt Nam năm 2020". Thời báo Tài chính Việt Nam (in Vietnamese). Retrieved 2024-01-30.
  23. ^ baotintuc.vn (2020-01-18). "Ngân hàng Shinhan được Standard & Poor's đánh giá triển vọng phát triển ổn định". baotintuc.vn (in Vietnamese). Retrieved 2024-01-30.
  24. ^ "Những dấu ấn quan trọng của Ngân hàng Shinhan trong năm 2020" (in Vietnamese). Retrieved 2024-01-30.
  25. ^ Quoc, Bao (2020-01-17). "Vanilla prepaid card". Tin nhanh chứng khoán (in Vietnamese). Retrieved 2024-01-30.
  26. ^ "Ngân hàng ngoại: "Quả ngọt" sau những vụ gieo trồng". Tin nhanh chứng khoán (in Vietnamese). 2020-05-30. Retrieved 2024-01-30.
  27. ^ "Những dấu ấn quan trọng của Ngân hàng Shinhan trong năm 2020". baodautu (in Vietnamese). Retrieved 2024-01-30.
  28. ^ tư, Tạp chí Kinh tế và Dự báo-Bộ Kế hoạch và Đầu. "Tác động của dịch Covid-19 đến kết quả hoạt động kinh doanh của hệ thống ngân hàng thương mại Việt Nam". Tạp chí Kinh tế và Dự báo - Bộ Kế hoạch và Đầu tư (in Vietnamese). Retrieved 2024-01-30.
  29. ^ "Tái cơ cấu tổ chức tín dụng - Những kết quả đạt được". tapchinganhang.gov.vn (in Vietnamese). Retrieved 2024-01-30.
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