South Korean lender Shinhan Bank has opened a new office in Dubai, located in the Dubai International Financial Centre (DIFC).

The new office – the bank’s 98th branch worldwide – will offer different financial services to businesses across the UAE and Middle East.

The South Korean bank, which recently acquired Indonesia’s Centratama Nasional Bank, plans to further expand its footprint by taking its branch count to 140 by the year end.

The launch of the Dubai office has expanded Shinhan Bank’s presence to 19 countries.

Shinhan Bank president and CEO Cho Yong-byung said: ""Dubai continues to serve as a gateway for global business and investment into the region. With several international projects underway, the required infrastructure alone will serve as a boon for project finance, while the increasing population of Dubai and the wider UAE will generate organic growth opportunities across a range of sectors.

"Shinhan Bank looks forward to bringing its customer-oriented spirit to the Middle East by offering comprehensive financial solutions that mutually benefit our customers across the region and the wider financial community."

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