Shinhan Bank reselected as Seoul's No. 1 and No. 2 municipal treasury bank

Placeholder

Placeholder

Shinhan Bank has been selected as the top-ranked candidate for both the No. 1 and No. 2 municipal treasury positions in Seoul after scoring highest in an evaluation held Monday, the Seoul Metropolitan Government said.

The city convened its treasury designation review committee on May 12 to assess proposals for the next treasury bank cycle. Two banks submitted proposals for the No. 1 treasury slot and four for the No. 2 slot. The committee evaluated each submission across six criteria set out in city ordinance.

Proposals were accepted from May 4 to May 6. Shinhan Bank and Woori Bank submitted bids for the No. 1 treasury, while KB Kookmin Bank, Shinhan Bank, Woori Bank and Hana Bank submitted bids for the No. 2 treasury.

In the No. 1 treasury evaluation, Shinhan Bank received a total score of 973.904 points, ranking first among the two competing banks and earning priority designation status.

Shinhan Bank also topped the No. 2 treasury field, scoring 925.760 points to rank first among four competing banks.

The city plans to officially announce the treasury designation results next week, based on the committee's findings. Under the applicable regulations, the committee submits its evaluation to the mayor, who then formally designates the new treasury bank.