Product Code Database
Shinhan Bank Co., Ltd. () is a South-Korean bank headquartered in Seoul. It was founded under this 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.
, Shinhan Bank had total assets of , total deposits of and loans of . Shinhan Bank is the main subsidiary of Shinhan Financial Group (SFG).
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, behind Kookmin Bank and ahead of Woori Bank and Hana Bank.
On , 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.Choe Sang-Hun, "Computer Networks in South Korea Are Paralyzed in Cyberattacks", The New York Times, 20 March 2013. The South Korean government asserted a link in the March cyberattacks, which has been denied by Pyongyang.
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.
In the 2008-2009 period, Shinhan Bank was licensed to become one of the five banks with 100% foreign capital. 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.
In 2017, Shinhan Bank acquired the retail segment of ANZ Vietnam Bank. In early 2020, Shinhan Vietnam Bank was rated BBB (stable) in the long term by international credit rating agency Standard & Poor's (S&P).
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. At the same time, in November 2020, Shinhan Vietnam Bank officially announced the implementation of Basel II Pillar 2 on capital adequacy assessment processes.
|
|
