Shinhan Bank opens branch in Myanmar as first Korean bank

During the opening ceremony to Shinhan Bank’s Myanmar branch held in the capital city of Yangon on Tuesday, Financial Supervisory Service chairman Jin Woong-seop (fifth from left), Shinhan Bank President Cho Yong-byung (first from left) and Myanmar’s central bank governor Kyaw Kyaw Maung (fourth from left) cut the ribbon. [Photo by Shinhan Bank]

South Korea’s Shinhan Bank has opened its Yangon branch in Myanmar to start its operation for local customers for the first time as a Korean Bank. With the new branch, the commercial bank’s network has expanded to 147 offices and branches in 20 countries.

Shinhan Bank said on Wednesday it held a ceremony to inaugurate its branch in Yangon, the capital city of Myanmar on Tuesday. The Korean bank set up its representative office in Myanmar in 2013.

The Myanmar branch is the bank’s latest one outside Korea following the opening of its new overseas branches in Japan, China, Vietnam, India, Cambodia and Indonesia, taking one step closer to its vision to build an Asian financial belt.

The opening ceremony was attended by Shinhan Bank President Cho Yong-byung, Financial Supervisory Service chairman Jin Woong-seop and Myanmar’s central bank governor Kyaw Kyaw Maung.

“Shinhan Bank’s Myanmar branch is the result of the trust building between the local community and financial authorities. We will provide more convenient financial services to help Korean companies do business in Myanmar and expand bilateral trade relations between the two countries,” said Shinhan Bank President Cho Yong-byung.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]