Shinhan Finance
Shinhan Finance Vietnam is a 100% foreign-owned consumer finance subsidiary of South Korea's Shinhan Card serving ~500,000 Vietnamese salaried workers with personal loans, the THE FIRST credit card, and installment financing via 37+ branches and major retail partners.
- Company typePrivate
- Founded2019
- HeadquartersHo Chi Minh City, Vietnam
- Headcount5,001–10,000
- GTM typeB2C
- OfferingServices
What Shinhan Finance does
Shinhan Finance Vietnam (Công ty Tài chính TNHH Một thành viên Shinhan Việt Nam) is a 100% foreign-owned consumer finance company headquartered in Ho Chi Minh City, established in September 2019 as the 66th member of the Vietnam Banking Association. It operates as a wholly-owned subsidiary of Shinhan Card (South Korea), which is part of Shinhan Financial Group, leveraging the parent's 18+ years of consumer lending technology and product expertise to serve Vietnamese salaried workers and installment buyers. The company offers three core product lines: unsecured personal loans (Vay tín chấp cá nhân) with limits up to 300 million VND and terms to 48 months at 18-49% annual interest; the THE FIRST Mastercard credit card with 0% installment conversion, up to 45 interest-free days, and 0.5% unlimited rewards; and consumer installment loans (Vay tiêu dùng trả góp) including motorbike and auto financing at partner dealers, with promotional rates from 0% to 59% annually.
The digital platform is anchored by the iShinhan mobile app, which integrates loan origination, credit card management, virtual card issuance, VietQR bank transfer payments, Auto Debit recurring payments, and e-signature capabilities. The company distributes through an omnichannel model: 37+ branches and service points across Vietnam (Hanoi, HCMC, Da Nang, Can Tho, and 30+ provinces), direct digital self-service, and point-of-sale financing at major retail chains (The Gioi Di Dong, Dien May Cho Lon, CellphoneS, FPT Shop, Nguyen Kim, Hoang Ha Mobile, Yamaha, Piaggio, Dat Bike). Payment acceptance spans 16+ integrations including BIDV, Vietcombank, Techcombank, MoMo, ZaloPay, VNPAY, ShopeePay, Napas, and Google Pay.
The revenue model is built on interest income from personal loans (18-49% declining balance), interchange and cash advance fees (2%) on credit card operations, and interest on installment loans originated through retail merchant partnerships. As of 2024, the company served approximately 500,000 Vietnamese customers with disbursement timelines of 48 hours from approval. A separate Shinhan Card subsidiary (LLP Microfinance Organization Shinhan Finance) operates in Kazakhstan via joint venture, having raised $60M from IFC (Oct 2023) and $24M from Aster (Dec 2023).
Shinhan Finance firmographics
Firmographics- Name
- Shinhan Finance
- Legal name
- Công ty Tài chính TNHH Một thành viên Shinhan Việt Nam
- Website
- https://shinhanfinance.com.vn
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Shinhan Finance Vietnam is a 100% foreign-owned consumer finance subsidiary of South Korea's Shinhan Card serving ~500,000 Vietnamese salaried workers with personal loans, the THE FIRST credit card, and installment financing via 37+ branches and major retail partners.
- Ownership category
- akta.pro rank
Shinhan Finance industry classification
Industry- Product category
- Consumer Finance
- NAICS
- Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218), Sales Financing (52222)
- SIC
- Mortgage Bankers & Loan Correspondents (6162), State Commercial Banks (6022)
- akta.pro primary industry
- Affluent/Premier Retail Banking (Mass Affluent) (FSABAAAG)
- akta.pro secondary industries
- Islamic Retail Banking (FSABAGAA), Affluent / Mass-Affluent Private Banking (FSABADAC)
Keywords
Where Shinhan Finance is headquartered
LocationHeadquarters
- HQ city
- Ho Chi Minh City
- HQ country
- Vietnam
- HQ region
- Asia
Offices6 records
Markets served
Shinhan Finance business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Unsecured Personal Loans: Interest income from personal unsecured loans to salaried workers. Loans range from VND 3 million to 300 million with terms up to 48 months. Interest rates from 18% to 49% per annum on declining balance.
- Credit Card Operations: Revenue from credit card transactions including interchange fees, cash advance fees (2%), and installment processing. THE FIRST credit card offers up to 100% cash withdrawal limit.
- Installment Purchase Financing: Consumer installment loans for retail purchases through partner merchants. Revenue generated through interest on installment loans for electronics, vehicles, and consumer goods.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Personal Unsecured Loan - Interest rates from 18% to 49% per annum |
| Transaction based/ take rate | Monthly | Credit Card THE FIRST - Annual fee waiver first year, 0.5% cashback on all transactions |
| Transaction based/ take rate | Monthly | Consumer Installment Loan - Maximum 100 million VND, 0% to 59% interest |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
Shinhan Finance product offering
Product offeringCore offering
Shinhan Finance is a 100% foreign-owned Vietnamese consumer finance company that provides unsecured personal loans, installment loans for consumer goods and vehicles, and the THE FIRST Mastercard credit card to Vietnamese salaried workers and consumers. Distribution is delivered through a nationwide branch network, the iShinhan mobile and web platform, and merchant point-of-sale partnerships with major Vietnamese retailers.
Product overview
Shinhan Finance is a consumer finance company (100% foreign-owned subsidiary of Shinhan Card, part of Shinhan Financial Group from South Korea) operating in Vietnam. The company offers a portfolio of financial products centered around two core offerings: unsecured personal loans (Vay tín chấp cá nhân) and credit cards (Thẻ Tín Dụng THE FIRST). Supporting these are consumer and motorbike installment loans (Vay tiêu dùng trả góp, Vay mua xe máy trả góp) and auto loans (Vay mua ô tô trả góp). The digital ecosystem is anchored by the iShinhan mobile app platform, which integrates loan management, credit card services, and payment functionalities. Recently launched products include Tài Tốc (fully automated online lending) and THE FIRST virtual credit card. All products are distributed through a nationwide network of branches, service points, and partner retail locations across Vietnam.
Differentiator
Problem solved
Functional benefit
Brands
- THE FIRST: Shinhan Finance's primary credit card brand, marketed as a Mastercard offering benefits including 2% cash withdrawal fee, up to 45 days interest-free period, 0% installment conversion, and unlimited 0.5% reward points on spending.
- iShinhan
Products and services
- Personal Unsecured Loan (Vay tín chấp cá nhân) Unsecured personal loan product offering interest rates from 18%/year on declining balance, loan amounts up to 300 million VND (or 12x monthly income), with repayment terms up to 48 months. Targets salaried Vietnamese employees with minimum monthly income of 6 million VND. Disbursement occurs within 48 hours of approval.
- THE FIRST Credit Card (Thẻ Tín Dụng THE FIRST) Mastercard credit card offering 2% cash withdrawal fee with up to 100% of credit limit accessible in cash, up to 45 days interest-free period, 0% installment conversion, and 0.5% unlimited reward points on all transactions. First-year annual fee waiver included. Supports contactless payments via Google Pay.
- Consumer Installment Loan (Vay tiêu dùng trả góp) Installment loan product for purchasing consumer goods including electronics, furniture, and vehicles at partner retailers. Offers loan amounts up to 100 million VND with flexible terms up to 48 months. Interest rates from 0% (promotional) up to 59%/year. Certain tiers do not require income documentation.
- Motorbike Installment Loan (Vay mua xe máy trả góp) Specialized installment loan product for motorbike purchases at partner retailers including Yamaha, Piaggio, and Datbike. Features very low down payment requirements with quick approval at authorized dealers.
- Auto Loan (Vay mua ô tô trả góp) Installment loan product for car purchases, including both new and used vehicles, with flexible terms and competitive interest rates for personal transportation needs.
- iShinhan Mobile App Platform Mobile and web application platform enabling Shinhan Finance customers to apply for loans, manage personal loans and credit cards, make repayments via integrated digital wallets (MoMo, ZaloPay, VNPAY) and partner banks via VietQR, create virtual credit cards, view statements, and access customer support.
- Tài Tốc (Instant Online Lending) Ultra-fast fully automated online lending solution enabling instant loan applications and approvals for personal financing needs of Vietnamese consumers.
Quantifiable outcome
- Nearly 1 million Vietnamese customers served
- +2 more outcomes
Companies that use Shinhan Finance
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles3 records
Shinhan Finance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration19 records
Feature3 records
Shinhan Finance partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered minor and major.
- MoMominorPayment partnership allowing MoMo e-wallet users to pay Shinhan Finance loans and credit card balances through the iShinhan platform with promotional discounts.
- VNPAYminorPayment partnership enabling VNPAY QR code payments for Shinhan Finance loan and credit card repayments.
- ZaloPayminorE-wallet payment partnership for loan and credit card repayments with promotional cashback offers.
- BIDVminorBank payment partner for loan and credit card payment processing.
- Shinhan Bank VietnamminorIntra-group banking partner for payment and transaction services.
- Dien May Cho Lon (Điện Máy Chợ Lớn)majorMajor retail partner offering consumer installment financing for electronics and appliances purchases.
- The Gioi Di Dong (Thế Giới Di Động)majorLeading electronics retail chain partner for consumer installment and loan products.
- Nguyen KimminorElectronics and appliances retail partner offering installment financing options.
- FPT ShopminorTechnology retail partner for consumer installment financing.
- Hoang Ha MobileminorMobile device retail partner with installment financing options.
- Yamaha Motor VietnamminorMotorcycle dealer partner for vehicle installment financing.
- Piaggio VietnamminorMotorcycle and scooter dealer partner for installment purchases.
- Dat BikeminorElectric motorcycle manufacturer partner for green transportation financing.
Scale indicators4 records
Recent moves7 records
Expansion highlights5 records
Shinhan Finance competitors and assessment
Company assessmentDirect peers
- FE Credit: Vietnam's largest consumer finance company, a wholly-owned subsidiary of VPBank, offering personal loans, credit cards, and installment financing through a nationwide branch network. Direct competitor with overlapping product set, target segment (salaried workers), and omnichannel distribution model.
- Home Credit Vietnam: Major international consumer finance player in Vietnam (part of PPF Group/Czech Republic), focused on installment financing at retail POS and personal loans. Highly comparable to Shinhan Finance in product mix, retail partnership model, and target customer base.
- HD Saison Finance: Vietnamese consumer finance company (affiliated with HD Bank) offering personal loans, installment financing, and credit cards. Operates a similar branch + digital distribution model targeting salaried workers, making it a closely comparable peer.
- LOTTE Finance Vietnam: Korean-owned consumer finance company in Vietnam, also a 100% foreign-owned subsidiary of a Korean financial group (LOTTE). Closest comparable to Shinhan Finance given shared Korean parent structure, similar product set, and overlapping target market.
- Mcredit (MB Shinsei): Vietnamese consumer finance joint venture involving MB Bank and Japanese partner Shinsei. Offers personal loans and installment financing, and is structurally similar to Shinhan Finance as a foreign-backed nonbank consumer finance company.
- Mirae Asset Finance Vietnam: Vietnamese consumer finance arm of Korean financial group Mirae Asset, offering personal loans, auto loans, and credit products. Comparable in scale, Korean-foreign-owned structure, and product focus.
- JACCS Vietnam Finance: Japanese-owned consumer finance company in Vietnam (subsidiary of JACCS Co., Ltd.) focused on installment financing and personal loans through retail partnerships. Direct competitor in POS financing and unsecured personal lending.
- Prudential Finance Vietnam: Vietnamese consumer finance company affiliated with the Prudential group, offering personal loans and installment financing. Comparable in foreign-ownership model and product mix targeting Vietnamese consumers.
Broad incumbents
- VPBank: One of Vietnam's largest joint-stock commercial banks and parent of FE Credit. Competes with Shinhan Finance across personal loans, credit cards, and consumer credit through both its bank and consumer finance subsidiary, with much broader product scope.
- Techcombank: Major Vietnamese commercial bank with growing consumer credit and credit card businesses. Represents a broader incumbent that competes with Shinhan Finance for salaried worker customers and retail POS financing opportunities.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Shinhan Finance social profiles
Digital presenceShinhan Finance compliance and trust
Trust signalCompliance4 records
Shinhan Finance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Shinhan Finance leadership team
Management profileNumber of profiles
Profiles1 record
Shinhan Finance funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Shinhan Finance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Shinhan Finance
What does Shinhan Finance do?
Shinhan Finance is a 100% foreign-owned Vietnamese consumer finance company that provides unsecured personal loans, installment loans for consumer goods and vehicles, and the THE FIRST Mastercard credit card to Vietnamese salaried workers and consumers. Distribution is delivered through a nationwide branch network, the iShinhan mobile and web platform, and merchant point-of-sale partnerships with major Vietnamese retailers.
Is Shinhan Finance a public or private company?
Shinhan Finance is a private company. It is classified as corporate owned and is currently operating.
When was Shinhan Finance founded?
Shinhan Finance was founded in 2019. It employs 5,001 to 10,000 people.
Where is Shinhan Finance based?
Shinhan Finance is headquartered in Ho Chi Minh City, Vietnam, in the Asia region.
How does Shinhan Finance make money?
Three revenue lines are on record. Unsecured Personal Loans are the primary driver. The others are credit Card Operations and installment Purchase Financing.
Who are Shinhan Finance's main competitors?
Direct peers on record are FE Credit, Home Credit Vietnam, HD Saison Finance, LOTTE Finance Vietnam, Mcredit (MB Shinsei), Mirae Asset Finance Vietnam, JACCS Vietnam Finance and Prudential Finance Vietnam. Broad incumbents are VPBank and Techcombank.
Does Shinhan Finance have an API?
No public API is recorded for Shinhan Finance.
What industry is Shinhan Finance in?
Shinhan Finance's product category is Consumer Finance. Its primary akta.pro industry code is FSABAAAG, Affluent/Premier Retail Banking (Mass Affluent), with a secondary code of FSABAGAA, Islamic Retail Banking. Its NAICS code is 5221 and its SIC code is 6162.