Shinhan Bank's Vietnam unit under scrutiny over internal control issues

Shinhan Bank Vietnam is under scrutiny after Vietnamese authorities issued nine corrective recommendations following an inspection of its Da Nang branch on Sept. 21. The inspection found shortcomings in loan screening, post-loan monitoring, collateral documents and guarantee paperwork, though the branch was assessed as relatively low risk overall. Shinhan said it would take appropriate measures in response. The findings came as Shinhan Financial Group expands its push in Vietnam.

The State Bank of Vietnam’s regional inspection authority covered lending operations, asset classification, loan-loss provisions, risk management, foreign exchange transactions and overseas remittances at the Da Nang branch.

Some loan applications lacked enough documents proving borrowers’ income and repayment ability.

The branch did not always follow its own schedule for monitoring how loans were used after disbursement.

Vietnamese authorities issued nine correction recommendations to Shinhan Bank Vietnam and its Da Nang branch.

Shinhan Bank Vietnam operates 56 branches across the country, and its net profit reached 259.1 billion won last year, about 30 percent of Shinhan Bank’s overseas net profit.

Published Sep 30, 2026 4:11 pm KST

Shinhan Bank Vietnam’s headquarters in Ho Chi Minh City / Courtesy of Shinhan Bank

Shinhan Bank's Vietnam operations are facing scrutiny over internal controls after the Southeast Asian country's central bank issued nine corrective recommendations, including shortcomings in loan screening, according to industry officials on Wednesday.

The State Bank of Vietnam's regional inspection authority issued its findings on Sept. 21 after conducting a comprehensive inspection of Shinhan Bank Vietnam's Da Nang branch.

The inspection covered lending operations, asset classification and loan-loss provisions, risk management, foreign exchange transactions and overseas remittances.

The authorities found shortcomings in loan screening and post-loan monitoring, as some loan applications lacked sufficient documents proving borrowers' income and repayment ability. The branch also failed to collect enough information on borrowers' financial condition and the purpose of loans in some cases.

"There were some shortcomings in the loan screening and approval process," the inspection authorities said in the report.

The branch was also found to have failed to follow its own schedule for monitoring how loans were used after they were disbursed. The authority said the branch did not conduct sufficiently thorough reviews of borrowers' financial condition, cash flows, repayment sources and use of loan proceeds.

Problems were also found in the management of collateral and guarantee documents.

In some cases, original documents proving a guarantor's seal were not obtained, while supporting guarantee documents were prepared only in Korean.

The authority also warned that the branch did not sufficiently track assets created through loans, saying this could make it harder to identify changes in borrowers' financial condition and cash flows in a timely manner.

Shinhan Financial Group Chairman Jin Ok-dong, left, shakes hands with Vingroup Vice Chairman Nguyen Quoc Tuan at Shinhan Bank Vietnam headquarters in Ho Chi Minh City, Sept. 17. Courtesy of Shinhan Financial Group

The report, however, said that the branch had made efforts to improve operational efficiency over the past two years and generally complied with relevant rules. It said the branch's overall operations and risk management were assessed as being at a relatively low risk level.

Based on the findings, Vietnamese authorities issued nine correction recommendations to Shinhan Bank Vietnam and its Da Nang branch to address potential risks and ensure safe and efficient operations in accordance with local regulations.

"We will take appropriate measures in response to the findings of the inspection," a Shinhan Bank official said.

The findings emerged as Shinhan Financial Group steps up its push to expand in Vietnam, with Chairman Jin Ok-dong visiting the country earlier this month.

On Sept. 17, Jin met with executives from Vingroup, one of the country's largest private companies, and pledged to expand cooperation beyond motor vehicle finance into areas including capital markets, insurance and digital services.

The Southeast Asian nation has become an increasingly important market for Shinhan and a key pillar of its overseas business. Shinhan Bank Vietnam operates 56 branches across the country, while its net profit reached 259.1 billion won ($191 million) last year, accounting for about 30 percent of the bank's overseas net profit.

Shinhan Financial expands partnership with Vietnam's Vingroup

新韩银行越南分行于9月21日接受越南当局检查，随后当局提出了九项整改建议。检查发现该分行在贷款筛选、贷后监管、抵押文件和担保文件等方面存在不足，但总体而言，该分行的风险评估相对较低。新韩银行表示将采取相应措施。此次检查结果出炉之际，正值新韩金融集团加大在越南的业务拓展力度。

越南国家银行区域检查机构对岘港分行的贷款业务、资产分类、贷款损失准备金、风险管理、外汇交易和海外汇款进行了检查。

一些贷款申请缺少足够的证明借款人收入和还款能力的证明文件。

该分行并非总是按照自己的计划来监控贷款发放后的使用情况。

越南当局向新韩银行越南分行提出了九项整改建议。

新韩银行越南分行在全国设有 56 家分行，去年净利润达到 2591 亿韩元，约占新韩银行海外净利润的 30%。

发布于2026年9月30日下午4:11（韩国标准时间）

新韩银行越南总部（胡志明市）/图片由新韩银行提供

据业内人士周三透露，新韩银行在越南的业务正面临内部控制方面的审查，此前该国央行发布了九项纠正建议，其中包括贷款筛选方面的不足。

越南国家银行地区检查机构于9月21日公布了对新韩银行越南岘港分行进行全面检查的调查结果。

检查范围涵盖贷款业务、资产分类和贷款损失准备金、风险管理、外汇交易和海外汇款。

当局发现贷款审核和贷后监管存在不足，部分贷款申请缺乏足够的证明借款人收入和还款能力的资料。此外，该分支机构在某些情况下也未能收集到足够的借款人财务状况和贷款用途信息。

检查部门在报告中指出：“贷款筛选和审批过程存在一些不足之处。”

该分支机构还被发现未能按照自身制定的计划对贷款发放后的使用情况进行监控。监管机构表示，该分支机构没有对借款人的财务状况、现金流、还款来源和贷款资金用途进行足够彻底的审查。

在抵押品和担保文件的管理方面也发现了问题。

在某些情况下，未能取得证明担保人印章的原始文件，而担保支持文件仅以韩语编写。

该机构还警告说，该分支机构没有充分跟踪通过贷款产生的资产，并表示这可能会使及时发现借款人财务状况和现金流的变化变得更加困难。

9月17日，新韩金融集团董事长金玉东（左）在胡志明市新韩银行越南总部与Vingroup集团副董事长阮国俊握手。图片由新韩金融集团提供。

然而，报告指出，该分行在过去两年中努力提升运营效率，并总体上遵守了相关规定。报告称，该分行的整体运营和风险管理被评估为风险水平相对较低。

根据调查结果，越南当局向新韩银行越南分行提出了九项整改建议，以解决潜在风险，并确保按照当地法规安全高效地运营。

新韩银行一位官员表示：“我们将根据检查结果采取适当措施。”

调查结果公布之际，新韩金融集团正加紧推进在越南的扩张计划，其董事长金玉东于本月初访问了越南。

9月17日，金会见了韩国最大的私营企业之一Vingroup的高管，并承诺将合作范围从汽车金融扩大到资本市场、保险和数字服务等领域。

这个东南亚国家已成为新韩银行日益重要的市场，也是其海外业务的关键支柱。新韩银行越南分行在全国设有56家分行，去年净利润达到2591亿韩元（约合1.91亿美元），约占该行海外净利润的30%。

新韩金融扩大与越南Vingroup集团的合作