Shinhan Financial expands partnership with Vietnam's Vingroup

Shinhan Financial Group is expanding its partnership with Vietnam’s Vingroup beyond motor vehicle finance into capital markets, it said Sunday. Shinhan Financial Chairman Jin Ok-dong met with Vingroup executives Thursday at Shinhan Bank Vietnam’s headquarters in Ho Chi Minh City to discuss new areas of cooperation. Vingroup, the Southeast Asian country’s largest private company by market capitalization, has interests ranging from real estate to electric vehicles. Shinhan’s relationship with the group has so far centered on vehicle finance, particularly for VinFast, its electric vehicle (EV) unit. Since 2024, Shinhan Bank Vietnam has provided a cumulative $100 million in loans to VinFast customers. Shinhan Vietnam Finance financed around 14,000 VinFast motorcycles in the first half of this year, with total financing reaching 15 billion won ($10.9 million). The two parties now plan to explore capital market opportunities, including equity and bond financing through Shinhan Securities Vietnam. Shinhan Bank Vietnam and Shinhan Vietnam Finance will also expand their vehicle finance bu