Shinhan Finance

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).

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

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

• Consumer finance services
• Personal unsecured loans
• Credit card services
• Consumer installment financing
• Mobile lending platform

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. 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.
2. 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.
3. 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

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core 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

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration19 records

Feature3 records

Partnerships

13 partnerships are on record, tiered minor and major.

• MoMominorOthersPayment partnership allowing MoMo e-wallet users to pay Shinhan Finance loans and credit card balances through the iShinhan platform with promotional discounts.
• VNPAYminorOthersPayment partnership enabling VNPAY QR code payments for Shinhan Finance loan and credit card repayments.
• ZaloPayminorOthersE-wallet payment partnership for loan and credit card repayments with promotional cashback offers.
• BIDVminorOthersBank payment partner for loan and credit card payment processing.
• Shinhan Bank VietnamminorOthersIntra-group banking partner for payment and transaction services.
• Dien May Cho Lon (Điện Máy Chợ Lớn)majorChannel Partner/ Reseller/ DistributorMajor retail partner offering consumer installment financing for electronics and appliances purchases.
• The Gioi Di Dong (Thế Giới Di Động)majorChannel Partner/ Reseller/ DistributorLeading electronics retail chain partner for consumer installment and loan products.
• Nguyen KimminorChannel Partner/ Reseller/ DistributorElectronics and appliances retail partner offering installment financing options.
• FPT ShopminorChannel Partner/ Reseller/ DistributorTechnology retail partner for consumer installment financing.
• Hoang Ha MobileminorChannel Partner/ Reseller/ DistributorMobile device retail partner with installment financing options.
• Yamaha Motor VietnamminorChannel Partner/ Reseller/ DistributorMotorcycle dealer partner for vehicle installment financing.
• Piaggio VietnamminorChannel Partner/ Reseller/ DistributorMotorcycle and scooter dealer partner for installment purchases.
• Dat BikeminorChannel Partner/ Reseller/ DistributorElectric motorcycle manufacturer partner for green transportation financing.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct 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

• YouTubebit.ly/ShinhanFinance_Youtube_official
• Facebookfacebook.com/shinhanfinance.official.vietnam
• LinkedInlinkedin.com/company/shinhan-finance-official
• Instagraminstagram.com/shinhanfinance_official

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shinhan Finance