Previously, Shinhan Bank installed and put into operation an ATM at Binh Dien Market, enabling merchants, workers and customers to access banking services more conveniently within the market premises. The signing of the MOU marks the next step in the relationship between the two organizations, broadening their collaboration from transactional banking facilities to financial solutions that support merchants’ business activities.

Through the agreement, the two parties aim to help merchants gain greater control over their funding while gradually developing a convenient and transparent financial services ecosystem tailored to the business characteristics of one of Ho Chi Minh City’s largest wholesale markets.

Under the cooperation framework, Binh Dien Market Management and Trading Company will work with Shinhan Bank to connect with and introduce eligible merchants and household businesses legally operating at Binh Dien Market that wish to access financial and banking products and services.

Shinhan Bank will receive and assess customers’ financial needs in accordance with the Bank’s applicable lending conditions and credit policies from time to time.

The credit solutions under the program focus on two principal areas: (1) working capital financing to help merchants secure the funding required for their regular business operations; and (2) financing for the repair, renovation or investment in business facilities to address medium- and long-term capital needs.

For working capital purposes, eligible customers may be considered for credit facilities with a maximum tenor of 12 months. For the repair, renovation or investment in business premises and facilities, loan tenors may extend up to 60 months, subject to customers’ needs and the Bank’s appraisal results. The program also offers flexibility in documentation requirements and credit amounts. Eligible customers may be considered for unsecured loans of up to VND 500 million.

Beyond addressing borrowing needs, the collaboration between Shinhan Bank and Binh Dien Market Management and Trading Company also seeks to strengthen the connection between the merchant community and relevant financial and banking products and services.

Through close coordination between the two parties, Shinhan Bank will be able to gain a deeper understanding of the operating characteristics, cash flows and financial needs of the merchant community at Binh Dien Market, thereby gradually developing solutions that more closely reflect customers’ actual business circumstances.

Mr. Phan Thanh Tan, Director of Binh Dien Market Management and Trading Company, shared: “Our partnership with Shinhan Bank Vietnam will contribute to expanding merchants’ access to formal financial solutions. Through this collaboration, we hope that household businesses and merchants at Binh Dien Market will be better positioned to secure funding, enhance their operational efficiency and achieve sustainable business growth.”

Mr. Yang Ho Rim, Deputy CEO of Shinhan Bank Vietnam, shared: “Binh Dien Market is not only a major trading hub but also plays an important role in Ho Chi Minh City’s goods supply and distribution chain. We therefore view this partnership as more than simply providing credit. Our goal is to build a long-term relationship with the merchant community and accompany our customers throughout their business development.

By leveraging our financial capabilities, risk management expertise and comprehensive banking solutions, Shinhan Bank looks forward to working with Binh Dien Market Management and Trading Company to further strengthen our partnership and develop practical and sustainable solutions. Through these efforts, we aim to help merchants access formal financing, manage their cash flows effectively and enhance their capacity for business growth.”

The agreement with Binh Dien Market Management and Trading Company further reflects Shinhan Bank’s commitment to expanding access to finance for household businesses and small and medium-sized enterprises, while connecting its banking solutions more closely with real-world business ecosystems.