Shinhan Bank, South Korea's fourth-largest bank by assets, said Tuesday that it has set up a branch in Myanmar as part of its diversification strategy, according to a Yonhap report on 20 September
It marked the first time for a South Korean lender to set up a branch in the country.
Shinhan Bank said its branch could help South Korean companies enter the Myanmar markets as it will offer them such services as money remittance in dollars and trade settlements, as well as loans in dollars.