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Woori Bank Vietnam review: services, fees, pros and cons
Woori Bank Vietnam — snapshot
Bank · 100% foreign-owned (South Korea)- Founded in Vietnam
- 1997 (Hanoi branch); incorporated locally as Woori Bank Vietnam Limited in 2017
- First Korean credit institution to operate in Vietnam
- Headquarters
- Keangnam Hanoi Landmark Tower, Hanoi
- Ownership
- Wholly owned by Woori Bank (Seoul, South Korea), a subsidiary of Woori Financial Group Inc.
- Listed on the Korea Exchange (316140) and the NYSE (WF)
- Charter capital
- VND 12,500 billion (≈ €455M / $491M)
- Largest among Vietnam's foreign-owned banks, following an April 2024 capital increase
- Branch network
- 26+ branches and transaction offices — Hanoi, Ho Chi Minh City, Hai Phong, Da Nang, Bac Ninh, Dong Nai, Binh Duong and other provinces
- Core services
- Deposit accounts, real-estate mortgage (We Home Loan), deposit-secured lending, corporate/FDI banking, FX and remittance
- Languages
- Vietnamese and English; Korean service is commonly available given the bank's South Korean ownership and corporate client base
Editorial rating — Woori Bank Vietnam for a foreign property buyer
- Foreigner accessibility
- 3.0 / 5
- English support
- 3.5 / 5
- Track record & reliability
- 4.5 / 5
- Fees & transparency
- 3.0 / 5
- Mortgage access for foreigners
- 2.5 / 5
Open to any foreign resident with a passport and valid visa/TRC, but core lending products require Vietnamese residency.
English-language website, hotline and account documentation are standard; branch-level fluency varies.
SBV-licensed, a deposit-insurance participant since 2016, and the largest foreign-owned bank in Vietnam by charter capital since 2024.
Loan terms and eligibility criteria are published; day-to-day account fees are not centrally listed online and must be confirmed in branch.
The We Home Loan is resident-only with a minimum income floor — not a route to finance a purchase from abroad.
Who is Woori Bank Vietnam, and what does it offer a Hanoi buyer?
Who is Woori Bank Vietnam?
Woori Bank first opened a branch in Hanoi in 1997, becoming the first Korean credit institution to operate in Vietnam. Two decades later, in 2017, the bank converted that presence into a locally incorporated, 100%-foreign-owned entity — Woori Bank Vietnam Limited — headquartered in the Keangnam Hanoi Landmark Tower. It is wholly owned by Woori Bank in Seoul, itself a subsidiary of Woori Financial Group Inc., one of South Korea's largest financial groups, listed on both the Korea Exchange and the New York Stock Exchange. After a capital increase approved in April 2024, Woori Bank Vietnam holds VND 12,500 billion in charter capital — the largest of any foreign-owned bank in the country — and now operates more than 26 branches and transaction offices across Hanoi, Ho Chi Minh City and several industrial provinces.
Woori Bank Vietnam for a foreign buyer in Hanoi
For a foreign buyer, the practical relevance of Woori Bank Vietnam sits in two products. Its We Home Loan is a real-estate mortgage secured against a property's Pink Book or another asset, available to resident borrowers — Vietnamese and foreign nationals holding a Temporary Residence Card — who meet a minimum monthly income of VND 8,000,000 (≈ €290) and an 18–70 age bracket, at up to 80% of the collateral's value. This lines up with the wider market reality covered in our guide to mortgages for foreigners: local bank credit in Vietnam is built for residents, not for buyers financing a purchase from abroad. Woori Bank Vietnam also offers a deposit-secured loan — borrowing against funds already held on term deposit, at up to 95% of their face value — which is faster to arrange and does not require residency, though it only unlocks capital you already hold rather than fresh acquisition financing. Beyond lending, the bank runs standard retail accounts, cards and remittance services, and a substantial corporate/FDI banking arm serving Korean and international businesses, relevant if you are structuring a purchase through a company or moving funds as part of the wider buying process. If you are weighing it against other options, our comparison of banks in Vietnam sets Woori side by side with local and other foreign-owned lenders.
What it costs to bank and borrow with Woori Bank Vietnam
Structure of published loan terms as of July 2026 — mortgage rates are revised every few months, so always request the current schedule from a branch before committing.
| — | Min | Max | Base |
|---|---|---|---|
| We Home Loan (real-estate mortgage)Loan term 6 to 360 months; collateral is typically the property's Pink Book or another asset owned by the borrower or a relative. | Up to 80% | of collateral value (LTV) | loan-to-value ceilingResident foreign buyer with a TRC, income ≥ VND 8,000,000/month (≈ €290), aged 18–70 |
| Introductory fixed-rate periodPublished fixed rates for the first 1–5 years move frequently — confirm the current schedule before signing. | Fixed for an initial term | then reverts to a floating rate | rate structureWe Home Loan borrowers |
| Rate discounts for qualifying customersDiscounts stack toward a published maximum; ask which conditions you meet. | Up to –0.4%/year | combined ceiling | conditional discountCard holders, private-banking clients, salary-in-account customers, first-home buyers under 35 |
| Deposit-secured loanNo residency requirement, but only unlocks funds already on deposit — not acquisition financing. | Up to 95% | of the deposit's face value | loan-to-deposit ceilingAny depositor with a VND or USD term deposit at Woori Bank Vietnam |
| Deposit account opening & maintenanceRequest the current account tariff from a branch or the foreign-customer desk before opening. | Not centrally published | — | one-off + ongoingForeign customer with a passport and visa/TRC |
Woori Bank Vietnam published loan terms and product disclosures (accessed July 2026) · State Bank of Vietnam charter-capital approval, reported in Vietnamese financial press (April 2024)
+ Woori Bank Vietnam: strengths and points to verify
- +Largest charter capital of any foreign-owned bank in Vietnam — VND 12,500 billion since an April 2024 increase
- +Licensed and supervised by the State Bank of Vietnam, and a deposit-insurance participant since 2016
- +Growing network of 26+ branches and transaction offices across Hanoi, Ho Chi Minh City and industrial provinces
- +Backed by Woori Financial Group, a listed South Korean banking group with an extensive overseas network
- +Published, structured mortgage and deposit-secured lending products with clear eligibility criteria
−
- −The We Home Loan mortgage is closed to non-resident foreign buyers — a TRC and minimum income are required
- −No centrally published fee schedule for everyday accounts; pricing must be confirmed branch by branch
- −Historically built around Korea's corporate and FDI client base in Vietnam, so retail depth for other nationalities varies by branch
- −Introductory fixed mortgage rates step up and revert to a floating rate after the initial period
- −Smaller retail branch footprint than Vietnam's large state-owned banks outside Hanoi and Ho Chi Minh City
✓ Who should bank with Woori Bank Vietnam
- ✓Expats resident in Hanoi or Ho Chi Minh City with a TRC who want a well-capitalised bank for salary, savings and property financing
- ✓Buyers who already hold a term deposit with Woori Bank Vietnam and want fast, deposit-secured financing
- ✓Korean nationals and Korean-linked businesses who value native-language service and an established relationship
- ⚠Non-resident foreign buyers hoping to finance a purchase from abroad without a TRC
- ⚠Buyers wanting an English-first, branch-free digital banking experience
- ⚠Anyone below the VND 8,000,000/month income floor needed for the We Home Loan specifically
Other banks working with foreign buyers in Hanoi
Standard Chartered Bank (Vietnam) Ltd
★Banque internationale; Priority Banking & wealth management (The Good Life), Priority Private; comptes, cartes, prêts/hypothèques, FX; clientèle expatriée/HNW.
Hanoi · EN, VN
Woori Bank Vietnam Ltd
★Filiale coréenne (Woori Bank); détail, dépôts, cartes, prêts non garantis et hypothécaires, assurance, remises; offres dédiées aux expatriés coréens (dont garantie études en Corée).
Hanoi · EN, VN
HSBC Bank (Vietnam) Ltd
★1re banque étrangère incorporée au Vietnam; banque internationale pour expatriés; HSBC Premier (wealth), comptes, prêts immobiliers/home equity, cartes, remises & Global Transfers, investissement/assurance.
Ho Chi Minh City · EN, VN
Shinhan Bank Vietnam Ltd
★1re banque étrangère de détail au Vietnam (groupe coréen Shinhan); comptes, prêts (dont hypothécaires), cartes, remises; forte clientèle expatriée coréenne.
Ho Chi Minh City · EN, VN
Frequently asked questions
Is Woori Bank legit?
Yes. Woori Bank Vietnam Limited is licensed and supervised by the State Bank of Vietnam, participates in Vietnam's deposit insurance scheme, and is wholly owned by Woori Bank in Seoul — part of Woori Financial Group, listed on the Korea Exchange and the NYSE.
What is the ranking of Woori Bank Vietnam among foreign banks?
By charter capital, it is the largest foreign-owned bank operating in Vietnam, after a capital increase to VND 12,500 billion approved in April 2024 — ahead of other major foreign banks present in the country.
Can a foreigner open an account at Woori Bank Vietnam?
Yes, with a passport and a valid visa or Temporary Residence Card. A TRC upgrades your status from non-resident to resident, unlocking a VND or USD account, higher transfer limits and access to lending products.
Does Woori Bank Vietnam offer mortgages to foreign buyers?
Yes, but only to residents. The We Home Loan requires a TRC, a minimum monthly income of VND 8,000,000, and collateral in Vietnam; it does not finance a purchase for a non-resident buying from abroad — see our financing guide for the wider picture.
What documents does Woori Bank Vietnam require to open an account?
Typically a passport and proof of visa or residence status, plus — for lending products — income evidence such as bank statements or payslips; exact requirements are confirmed at the branch or foreign-customer desk.
Is Woori Bank Vietnam the same company as Woori Bank in Korea?
Woori Bank Vietnam Limited is a separate, locally incorporated legal entity, but it is wholly owned by Woori Bank in Seoul and operates as part of the same global Woori Financial Group network.
Our verdict
3.3 / 5Woori Bank Vietnam earns its position through capital strength and regulatory standing rather than accessibility: it is now the best-capitalised foreign-owned bank in the country, State Bank of Vietnam-licensed, and a natural fit for an expat resident with a TRC who wants a solid institution for salary, savings and a straightforward mortgage. It is a poor fit, however, as a bridge into the market for a non-resident buying from abroad — the We Home Loan simply is not built for that profile, and a credit broker or a local partner bank is usually the faster route. Once you are banked and financed, the next constraint is usually legal rather than financial: line up your conveyancing counsel — see our comparison of law firms in Vietnam — before you sign a reservation agreement.
Talk to our Hanoi desk before you choose a bank
We work with foreign buyers financing and banking in Hanoi every week — get an independent second opinion on whether Woori Bank Vietnam, another bank, or a broker route fits your situation, at no cost.