NongHyup Bank to open branch in HCMC

Ho Chi Minh City supports and creates optimal conditions for the Republic of Korea’s NongHyup Bank to open a branch in the southern largest economic hub of Vietnam, said a municipal official.

NongHyup Bank's Hanoi branch was inaugurated in 2016. (Photo:

NongHyup Bank's Hanoi branch was inaugurated in 2016. (Photo:

While receiving NongHyup Bank President Lee Dae-hoon on January 31, Vice Chairman of the municipal People’s Council Pham Duc Hai congratulated the bank on its recent achievements, especially the expansion of branches in regional countries, including Vietnam.

Hai said HCMC supports NongHyup’s plan to open the branch – a move shows the bank’s resolve to invest more intensively and extensively in the city.

He expressed his belief that with its experiences in opening the Hanoi branch, the NongHyup Bank will be successful in deploying banking and credit activities in HCMC, thereby helping to connect investment and business activities of Korean and Vietnamese firms.

Briefing his host about NongHyup’s operations, Lee asked HCMC leaders to support the opening of the branch, thus creating favourable conditions for Korean enterprises to do business in the city.

NongHyup hopes that the bank can apply its experiences in agricultural credit provision in its activities in HCMC, he added.

The NongHyup Bank is an agricultural bank founded in 1961 in the RoK. It launched a representative office in Hanoi in 2013 and another in HCMC in November 2018. Its Hanoi branch was inaugurated in 2016.

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