Shinhan Bank

Shinhan Bank Co., Ltd. is a bank headquartered in Seoul, South Korea. Historically it was the first bank in Korea, established under the name Hanseong Bank in 1897. The bank was reestablished in 1982. It is part of the Shinhan Financial Group, along with Jeju Bank. Chohung Bank merged with Shinhan Bank on April 1, 2006.

Shinhan Bank started as a small enterprise with a capital stock of KRW 25.0 billion, 279 employees, and three branches on July 7, 1982. Today, it has transformed itself into a large bank, boasting total assets of KRW 176.9 trillion, equity capital of KRW 9.7 trillion, 10,741 employees, and 1,026 branches as of 2006. As of June 30, 2016, Shinhan Bank had total assets of, total deposits of  and loans of. Shinhan Bank is the main subsidiary of Shinhan Financial Group (SFG).

History
Shinhan Bank is the descendant of Hanseong Bank, the first modern bank in Korea. It was established by Kim Jong-Han in 1897, but began operating around 1900. It was originally located in a small house with only two rooms. One room was for the president, Yi Jae-Won, and the other room was for the staff. The bank operated by borrowing money from Japanese banks at low interest rates and then loaning it out for twice the rate to the Korean market. The Bank was successful because despite lending out money at twice the rate it borrowed it at, the bank's interest rates were still far lower than what could be obtained elsewhere in Korea at that time.

In an anecdotal story the bank's first property to use as collateral on a loan happened to be a donkey. The bank staff were challenged to feed and care for their collateral as the loan was out.

In March 2013, the Financial Services Commission of South Korea said that Shinhan Bank reported that its Internet banking servers had been temporarily blocked. The South Korean government asserted a North Korean link in the March cyberattacks, which has been denied by Pyongyang.

In Vietnam
Shinhan officially established its Ho Chi Minh City branch in December 1994, becoming the first Korean bank to establish a branch in Vietnam. 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.