Interview transcript: Suh Jin Won, CEO of Shinhan Bank, 17th April 2012
Suh Jin Won, CEO of Shinhan Bank, discusses overseas expansion and the bank’s priorities, consolidation in the domestic banking industry, and capital requirements and managing consumer debt. May 30, 2012 | Asian Banker Editorial1. Overseas expansion and bank priorities Emmanuel Daniel (ED): I’m very pleased to be speaking with Suh Jin Won, CEO of Shinhan Bank. How much time do you spend in Korea and overseas? Suh Jin Won (SJW): I usually spend 90% of my time in Korea and 10% overseas, but lately I have been spending more time out of Korea. ED: Where do you spend most of your time outside Korea? SJW: I have been spending time in US, Japan, China and Vietnam. I also recently paid both London and Frankfurt a short visit. ED: In terms of your corporate customers, which country has bigger corporate needs, the US or China? SJW: When it comes to the needs of corporate clients, there are two groups to consider today. Firstly, the overseas subsidiaries of Korean corporations and secondly, Korean companies that have invested domestically. The former group seems to have bigger corporate needs at the moment. ED: What are the three most important priorities for you at this moment, not just as an international bank, but as a bank in general? SJW: The first priority would be asset quality and profitability of the bank and how to translate this into a long-term goal. Secondly, the Korean market is very competitive with increasingly thinner margins, so we are looking at expanding overseas. Lastly, we are focusing more on CSR activities, in terms of what the bank can do for the community and society as a corporate citizen. 2. Consolidation in the domestic banking industry ED: In terms of market share, you gained a lot from the purchase of LGCard in 2006. Have you fully maximized your advantage in that business today? Competition in Korea... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Capital & Strategic Issues, consumer, Korea, Mergers and Acquisitions, Retail Banking, Risk and RegulationCapital & Strategic Issues,consumer,Korea,Mergers and Acquisitions,retail,Risk and Regulation, Capital & Strategic Issues,consumer,Korea,Mergers and Acquisitions,Retail Banking,Risk and Regulation, Keywords:Capital And Cash Flow, Shinhan Bank, Choheung Bank, LGCard, Standard And Poor’s, OECD, Liquidity, Credit Card Management Capital and Cash Flow, Shinhan Bank, Choheung Bank, LGCard, Standard and Poor’s, OECD, Liquidity, Credit Card Management
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