Woori Bank to open five branches, one transaction office in VN

VGP - The Governor of the State Bank of Viet Nam has issued a document approving the establishment of branches and transaction office by Woori Bank Viet Nam.

June 27, 2018 4:57 PM GMT+7

Accordingly, the branches will be opened in Thai Nguyen, Ha Nam, Hai Phong, Nhon Trach (Dong Nai) and Binh Duong. The transaction office will be established in Phu My Hung under the Ho Chi Minh City branch.

Most of the branches will be located in large industrial zones and areas with numerous foreign direct invested firms.

Woori Bank Viet Nam was one of the nine 100% foreign-owned banks in Viet Nam, coming from the Republic of Korea and was licensed to operate in Viet Nam since 2016 with the chartered capital of VND3 trillion (US$131 million).

Banks and large groups from the RoK have been accelerating their operations in Viet Nam.

Shinhan Bank has also been continuously expanding its operations in Viet Nam, especially in retail banking.

By Vien Nhu