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PT Shinhan Indo Finance operates as a joint venture between Shinhan Card Co., Ltd., renowned as the premier credit card company in South Korea, and Indomobil Group, a highly respected automotive entity well-known among Indonesian people. Formerly known as PT Swadharma Indotama Finance, the company underwent a name change to become PT Shinhan Indo Finance. In August 2015, Shinhan Card Co., Ltd. acquired a fifty-percent stake in PT Swadharma Indotama Finance.
Leveraging the expertise and experience of Shinhan Co., Ltd. in the credit card industry, PT Shinhan Indo Finance expanded its operations to include credit card services. In 2016, the company procured a credit card system and secured a credit card business license to facilitate this new venture.
In February 2017, PT Shinhan Indo Finance introduced its credit card services to the public under the product name "ShinhanIndo Card." This card lineup features four distinct individual card options: Silver, Gold, Platinum, and Infinite, along with two corporate card options: Gold and Platinum. Simultaneously, PT Shinhan Indo Finance entered the retail sector, focusing on passenger cars.
Recognizing substantial potential within the multi-finance industry, PT Shinhan Indo Finance made a strategic shift in 2019, transitioning its core business to corporate leasing. This shift propelled PT Shinhan Indo Finance to emerge as a formidable player among other companies within the Indomobil Group, cementing its status as a competitive multi-finance enterprise.