Woori Bank, a subsidiary of the Republic of Korea’s Woori Financial Group, will open its new branch in Da Nang on October 18. (Photo: Yonhap)
Seoul (VNA) – Woori Bank, a subsidiary of the Republic of Korea’sWoori Financial Group, will open its new branch in Da Nang on October 18.
Besides, it has planned to establish other four branches in Hanoi, Vinh Phuc,Dong Nai and Ho Chi Minh City this year, raising its total branches in Vietnamto 14.
The bank opened its first branch in Hanoi in 1997. Last year, it was licensedto establish six new branches to increase business activities in Vietnam.
Currently, in the Vietnamese credit system, there arenine banks with 100 percent foreign capital, namely ANZ, Standard Chartered,Shinhan, HSBC, Hong Leong, Public Bank, CIMB, Woori Bank and UOB.
Over the past three years, two banks from the Republic of Korea,Shinhan and Woori Bank, have been actively expanding their network in Vietnam./.
The State Bank of Vietnam last week sent a document to the Republic of Korea’s Woori Bank allowing it to open five branches and a transaction office in Vietnam.
Foreign banks in Vietnam have been expanding their transaction networks and increasing their charter capital in a bid to increase market share, especially in the retail banking sector.
Petrolimex Insurance Corporation (PJICO), a top 5 non-life insurance company in Vietnam, has signed a cooperation agreement with the Republic of Korea’s Woori Bank.
The State Bank of Vietnam (SBV) has given the go-ahead approving the eligibility of the Republic of Korea’s Woori Bank to establish five branches in Vietnam.
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Woori Bank, a subsidiary of the Republic of Korea’s Woori Financial Group, will open its new branch in Da Nang on October 18. (Photo: Yonhap) 
