NongHyup Bank announced Sunday that it has officially opened its London branch, marking its first foothold in Europe.
The opening ceremony, held Friday, was attended by approximately 130 guests including NongHyup Bank CEO Kang Tae-young, Lord Mayor of London Alastair King and Han Seung-ho, acting consul general for South Korea in London.
The London branch follows the establishment of NongHyup's representative office in the city in 2021. After securing regulatory approval in July, the branch began operations on July 15.
To mark the opening, Kang Ho-dong, chair of the National Agricultural Cooperative Federation, visited the London branch in July as part of a European tour to review the group’s overseas operations.
During the trip, Kang urged the London branches of NongHyup Bank and its brokerage affiliate NH Investment & Securities to serve as global strategic bases for the group’s financial services.
As the bank’s first outlet in the European market, the London branch is expected to serve as a bridgehead for expanding global investment banking operations across Europe, the Middle East and Africa.
It will also provide corporate banking services to Korean companies active in Europe as well as local firms seeking stronger financial ties with Asia.
“We are truly thankful for the employees whose efforts led to the opening of the London branch,” said Kang. “We will foster the branch into a strategic hub that drives Nonghyup Bank’s growth in global investment banking.”
hyelimchung@heraldcorp.com
