Bank plans to tap India, Philippines on strength of affiliate KEB


Hana Bank chief executive Kim Jong-jun unveiled on Thursday the lender’s overseas strategy to tap more emerging markets in Asia.

During his first press conference as the bank chief in Seoul, Kim picked India and the Philippines as the commercial bank’s new business targets.

“We have advanced to China, Hong Kong, Singapore, Indonesia and Vietnam,” he said. “As an expansion policy in Asia, we are considering making inroads into India and the Philippines.”

He stressed that Hana’s global expansion strategy will be sought in close collaboration with its affiliate Korea Exchange Bank, which was acquired by Hana Financial Group last February.

“After securing business networks through the advancement, we will open more branches by seeking business alliances with local banks in the countries,” he said.

The new CEO added that Hana is also considering taking over Korean-American owned banks in the United States.

“By maximizing synergy, Hana and KEB will become the best-level bank in the coming years,” he said.

Kim, who formerly worked as chief executive of Hana Capital, launched his two-year term as Hana Bank CEO on March 22.

His predecessor Kim Jung-tai took office as chairman of Hana Financial Group on March 26.

The new Hana Bank CEO has said he would do his best to help the parent company Hana Financial become one of the world’s top 50 financial groups by supporting the new chairman.

Born in Busan in 1956, Kim graduated from Sungkyunkwan University before he began his career as a banker at Korea Investment Finance, a former entity of Hana Bank, in 1980.

Earlier this month, Hana Financial Group selected the group’s new top three executives ― chairman Kim Jung-tai, president Choe Heung-sik and bank CEO Kim.

For the flagship banking sector, Hana Financial chairman Kim Jung-tai has clarified that the group is seeking further opportunities for M&As in Asia and the U.S.

While he commented on China, Vietnam and Indonesia as the main targets in the Asian market, he said, “We plan to enhance the retail banking and the private banking service (aimed at wealthy customers) in China.”

The chairman said he is pinning hopes on many overseas branches of KEB in the group’s global marketing.

“The Domestic market has already been saturated. There is no other way than making inroads into the overseas market in the future businesses,” he said.

By Kim Yon-se (kys@heraldcorp.com)