Amid Vietnam’s robust economic recovery and a clear upward trend in retail growth, Woori Bank and LOTTE Finance have officially signed a strategic cooperation agreement, marking a significant milestone in delivering comprehensive financial solutions to customers. This alliance not only facilitates access to modern banking services but also leverages the remarkable growth opportunities of Vietnam’s retail finance market in 2025.

Building a Strong Foundation: Payment Accounts, Consumer Finance, and an Integrated Ecosystem

Under this partnership, Woori Bank will provide payment and deposit account services to LOTTE Finance customers with exclusive benefits. Both parties have committed to contractual cooperation, laying a solid foundation for launching tailored financial products that meet diverse customer needs. Through this collaboration, LOTTE Finance customers will gain access to a wide range of secure and modern financial solutions—from Woori Bank’s payment services to LOTTE Finance’s consumer lending offerings. Customers will also enjoy benefits that align with their specific goals and needs.

“This is a strategic move to reinforce our market position while addressing the rising demand for retail banking and consumer finance services,” a Woori Bank representative stated.

Dual Benefits for Customers

The synergy between Woori Bank and LOTTE Finance promises several advantages for consumers:

  • Fast, Secure, and Comprehensive Transactions: Customers can access modern financial products that make fund management and payment processes more convenient than ever.

  • Product Diversity: The collaboration broadens the product portfolio—from online payment account solutions to competitive consumer loan packages—ensuring greater financial flexibility.

  • Digital Transformation Breakthroughs: The application of cutting-edge technology optimizes operations, enhances customer experience, and boosts the growth of the consumer lending market.

Looking Ahead

The strategic alliance between Woori Bank and LOTTE Finance is expected to be a key catalyst in driving transformation and expanding market share in the retail banking sector—one of the most promising areas for growth amid Vietnam’s ongoing economic recovery. It also underscores Woori Vietnam’s ambition to further solidify its footprint in the country’s retail banking landscape.

According to the latest data from the State Bank of Vietnam (SBV), credit growth reached 3.93% in Q1 2025—2.5 times higher than the 1.42% recorded in the same period last year. Lending interest rates have continued to decline significantly compared to the end of 2024, reflecting the strong efforts of the banking system to support the economy.

Woori Bank Vietnam stands out for its efforts to help individual customers access low-cost capital, particularly those aspiring to purchase their first home. With the We Home Loan package, offering preferential interest rates from just 3.9% per year—the lowest on the market—Woori Bank is committed to delivering smart financial solutions that help customers realize their dream of homeownership, achieve stability, and lay a solid foundation for the future.

Woori Bank Vietnam Ltd, is a key member of the global Woori Bank network. Headquartered in Seoul, South Korea, Woori Bank entered Vietnam in 1997.

Since officially establishing its legal entity and headquarters in Hanoi in 2017, Woori Bank Vietnam has made significant strides. Following a capital increase to VND 12.5 trillion in early 2024, it has become one of the most well-capitalized foreign banks operating in Vietnam.

LOTTE Finance is a wholly foreign-owned company, backed by LOTTE CARD, which operates the largest retail and service network in South Korea’s credit card sector. After seven years in the Vietnamese market, LOTTE Finance continues to accelerate its strategies, including developing a proprietary credit scoring model, promoting digital transformation, and diversifying its product and service offerings. Its ultimate goal is to meet the growing capital needs of both individuals and businesses, while enhancing service quality in the financial sector.