The State Bank of Vietnam grants a licence to Industrial Bank of Korea to establish a wholly foreign-owned bank in Vi\u1ec7t Nam at the Vietnam\u2013Korea Financial Cooperation Forum in H\u00e0 N\u1ed9i on April 23, 2026. \u2014 Photo thitruongtaichinhtiente.vn<\/p>\n
H\u00c0 N\u1ed8I \u2014 The Industrial Bank of Korea (IBK) Vietnam, a wholly foreign-owned bank backed by South Korea\u2019s Industrial Bank of Korea, will officially begin operations on September 25, adding a 10th fully foreign-owned bank to Vi\u1ec7t Nam\u2019s banking market.<\/p>\n
IBK Vietnam has charter capital of VN\u01107.3 trillion (US$278 million). Its parent, Industrial Bank of Korea, was established in 1961 and is 68.5 per cent owned by the South Korean Government.<\/p>\n
The State Bank of Vietnam granted IBK Vietnam a licence to establish and operate on March 24, 2026.<\/p>\n
The bank is headquartered at Keangnam Landmark 72 in H\u00e0 N\u1ed9i. Park Kyung Il is its legal representative and general director.<\/p>\n
IBK Vietnam said it would provide banking and financial services permitted under Vietnamese law, with a focus on serving customers and supporting businesses.<\/p>\n
The bank has had a presence in Vi\u1ec7t Nam since 2008, when it opened a branch in HCM City. It later opened a H\u00e0 N\u1ed9i branch in 2013 and submitted an application to establish a wholly foreign-owned bank in 2017.<\/p>\n
In late July, the central bank’s Credit Institutions Supervision and Management Department approved the addition of debt purchase to IBK Vietnam’s licensed activities.<\/p>\n
IBK Vietnam’s launch brings the number of wholly foreign-owned banks in Vi\u1ec7t Nam to 10. They are IBK Vietnam, Shinhan Vietnam and Woori Vietnam from South Korea; UOB Vietnam from Singapore; HSBC Vietnam and Standard Chartered Vietnam from the UK; Public Bank Vietnam, CIMB Vietnam and Hong Leong Vietnam from Malaysia; and ANZ Vietnam from Australia.<\/p>\n
IBK has previously expressed interest in expanding its role in Vi\u1ec7t Nam’s economy. At a meeting with Deputy Prime Minister H\u1ed3 \u0110\u1ee9c Ph\u1edbc in September last year, Kim Sung Tae, then chairman and CEO of IBK, said the bank hoped to support small- and medium-sized enterprises, participate in infrastructure projects and provide financial investment in Vi\u1ec7t Nam.<\/p>\n
Under the current regulations, foreign banks must meet strict financial and governance requirements, including five consecutive years of profits and total assets of at least $10 billion. \u2014 VNS<\/p>\n","protected":false},"excerpt":{"rendered":"The State Bank of Vietnam grants a licence to Industrial Bank of Korea to establish a wholly foreign-owned…\n","protected":false},"author":2,"featured_media":123355,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[456],"tags":[845,18023,18011,18050,18052,846,78,17999,18036,18020,18019,119,2329,18041,18038,18003,17998,77,18047,18024,18002,7889,2983,18007,18014,18035,18018,18033,18045,18005,18034,18025,18022,18051,18021,414,481,1583,18004,18048,18053,18001,18031,18027,18008,18013,18040,18046,18006,18039,18043,13678,18044,18032,18042,18016,18012,18049,18017,18010,17996,18055,18028,18054,18029,5905,18037,18015,18009,18030,18000,18026,17997],"class_list":["post-123354","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bank-of-korea","tag-bank-of-korea","tag-bao-online","tag-bao-vietnam","tag-bao-vn-net","tag-baovietnam","tag-bok","tag-business","tag-current-news","tag-current-news-headlines","tag-daily-nation-newspaper-headlines","tag-daily-nation-today","tag-economy","tag-english-daily","tag-english-news-headlines","tag-english-news-papers","tag-english-newspapers","tag-english-through-the-news","tag-environment","tag-govt-news","tag-headlines-news","tag-latest-news-today","tag-life","tag-magazine","tag-nation-news-paper","tag-national-news-headlines","tag-national-news-in-english","tag-news-headline","tag-news-headlines-for-today","tag-news-highlights","tag-news-latest","tag-news-paper-online","tag-news-site","tag-news-website","tag-news-vn","tag-newspaper-headlines-today","tag-politics","tag-society","tag-sports","tag-the-vietnam-war","tag-the-vietnam-war-summary","tag-thongtanxavietnam","tag-tin-viet-nam","tag-tin-viet-nam-net","tag-tin-vietnam","tag-today-breaking-news","tag-today-headlines","tag-today-hot-news","tag-today-international-news","tag-today-news-headlines","tag-top-news-headlines","tag-up-to-the-minute-news","tag-viet-nam","tag-viet-news","tag-viet-to-english","tag-vietnam-conflict","tag-vietnam-culture","tag-vietnam-economy","tag-vietnam-exports","tag-vietnam-government","tag-vietnam-history","tag-vietnam-news","tag-vietnam-news-agency","tag-vietnam-people","tag-vietnam-plus","tag-vietnam-today","tag-vietnam-war","tag-vietnam-war-history","tag-vietnam-war-summary","tag-vietnamese-culture","tag-vietnamese-news","tag-vietnamese-to-english","tag-war-in-vietnam","tag-your-say"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/123354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=123354"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/123354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/123355"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=123354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=123354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=123354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}