Question 1

What is Busan Bank?

Accepted Answer

Busan Bank is a South Korean regional bank operating a branch in Vietnam. The Ho Chi Minh City branch serves as an international extension of one of South Korea's largest regional financial institutions. With allocated capital of 35 million USD, the branch focuses on facilitating trade and investment between Vietnam and South Korea while providing comprehensive commercial banking services to corporate and individual customers in Vietnam.

Question 2

When was Busan Bank founded?

Accepted Answer

The parent Busan Bank was established in October 1967 in South Korea to facilitate the regional economy of Busan, the country's major port city. The bank listed on the stock exchange in June 1972 and has grown into South Korea's fifth-largest regional bank.

The Vietnam branch received its establishment license on May 27, 2016, from the State Bank of Vietnam (License No. 48/GP-NHNN) and was officially established on June 1, 2016.

Question 3

Where is Busan Bank headquartered?

Accepted Answer

The Vietnam branch is headquartered in Ho Chi Minh City at Room 1502, 15th Floor, Kumho Asiana Plaza Saigon, 39 Le Duan Street, District 1. The parent bank's headquarters is located at 30 Munhyeongeumyyung-ro, Nam-gu, Busan, South Korea.

Question 4

Where does Busan Bank operate?

Accepted Answer

In Vietnam, Busan Bank operates primarily through its Ho Chi Minh City branch, which serves as the main hub for its Vietnamese operations. The bank also maintains a representative office in Hanoi to support business development activities in northern Vietnam.

Question 5

What services does Busan Bank offer?

Accepted Answer

Busan Bank's Vietnam branch provides a full range of commercial banking services authorized under Vietnamese law. These include deposit-taking services (demand deposits, time deposits, savings accounts), credit facilities (lending, discounting, bank guarantees, credit card issuance, domestic factoring), payment account management, and domestic payment services.

The branch also offers cash management services, banking and financial advisory services, asset custody services, safe deposit box rentals, corporate finance advisory, treasury services (trading in government bonds, corporate bonds, and money market instruments), currency brokerage, and international wire transfer services.

Question 6

What makes Busan Bank unique?

Accepted Answer

Busan Bank's Vietnam presence serves as a financial bridge between Vietnamese and South Korean businesses, leveraging the strong economic relationship between the two countries. The branch benefits from its parent bank's extensive experience in South Korea, where Busan Bank operates over 260 branches and has more than 50 years of banking expertise.

The branch particularly focuses on supporting Korean companies investing in Vietnam while also providing sophisticated financial services to Vietnamese enterprises and individuals.

Question 7

What type of financial institution is Busan Bank?

Accepted Answer

Busan Bank is classified as a foreign bank branch (chi nhánh ngân hàng nước ngoài) in Vietnam, operating under commercial banking regulations. As a branch of a foreign commercial bank, it operates as part of BNK Financial Group, one of South Korea's top 10 financial groups specializing in credit, asset management, securities, and venture capital investment.

Busan Bank

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About Busan Bank in Vietnam