Hana Financial Group

Hana Financial Group Inc. (Korean주식회사 하나금융지주; RRJusik Hoesa Hana Geumyung Jiju) is a financial holding company headquartered in Seoul, South Korea.[1]

Hana Financial Group Inc.
Native name
주식회사 하나금융지주
TypePublic
KRX: 086790
IndustryFinancial services
FoundedDecember 2005; 17 years ago (2005-12)
Headquarters,
Key people
Kim Jung-tai, CEO
SubsidiariesHana Bank
Websitewww.hanfn.com

HistoryEdit

Hana Financial Group was established as Hana Bank's transition to a holding company.[2] In 2005, Hana Bank was delisted and incorporated into Hana Financial Group as a subsidiary.[3]

In 2005, Hana Financial Group acquired Daehan Investment and Securities, then Korea's second-largest asset management company.

In 2012, Hana Financial Group acquired a 51.02 percent stake in Korea Exchange Bank (KEB) from Lone Star Funds for KRW 2.02 trillion.[4] Due to opposition from the KEB labor union, the merger between KEB and Hana Bank was delayed until 2015, and the two banks operated independently under the Hana Financial Group umbrella.[5] An arbitration suit for additional compensation filed by Lone Star was dismissed in May 2019.[4]

SubsidiariesEdit

  • Hana Bank
  • Hana Securities co., LTD (formerly Hana Financial Investment , Hana Daetoo Securities)
  • KEB Hana Card
  • Hana Capital
  • Hana Life (formerly Hana HSBC Insurance)
  • Hana Insurance
  • Hana Savings Bank
  • Hana Asset Trust
  • Hana Alternative Asset Management
  • Hana F&I
  • Hana Ventures
  • Hana Investor Services
  • Hana TI
  • Hana Financial Find
  • Overseas Units: Hana Bank (China), PT Bank Hana (Indonesia), Hana Asia Limited (Hong Kong)
  • BNB Hana Bank (Hana acquired BNB Bank in 2013): New Jersey and New York, USA

Hana Financial, Inc. (Los Angeles, CA, USA) is not a member of Hana Financial Group. Founded in 1994, Hana Financial, Inc. is a non-bank financial institution, which offers factoring, asset based lending, and SBA lending. Hana Financial, Inc. has about $2 billion in annual factoring and loan originations.

Overseas operationsEdit

Subsidiaries of Hana Financial Group are active in 24 countries, spanning Asia, the Americas, Europe and the Middle East.[6] In particular, Hana Financial Group has substantial equity investments in banks in China, Indonesia and Vietnam.

In 2007 Hana Financial Group established a subsidiary in China, Hana Bank China. In 2009 Hana Bank China was licensed to perform transactions involving Renminbi and debit card transactions. A year later, Hana Financial Group acquired an 18.44% stake in the Bank of Jilin Co. Ltd.[7] In January, 2011 the group entered into a strategic alliance with the China Merchants Bank.

Bank Bintang Manunggal was acquired by Hana Financial Group in 2007, and renamed PT. Bank Hana in 2008. The Indonesian subsidiary of Hana Financial Group acquired Bank KEB Indonesia as part of the group's global acquisition in 2014, and recently established LINE BANK by Hana Bank, a joint venture with LINE Financial Asia in 2021.[8][9]

In 2019, Hana Financial Group's subsidiary KEB Hana Bank acquired a 15% stake in Vietnam's BIDV.[10]

See alsoEdit

ReferencesEdit

  1. ^ "Hana Financial wins preliminary nod for asset manager in Singapore". Yonhap. Seoul. June 14, 2021. Retrieved November 7, 2021.
  2. ^ Loosvelt, Dereck (June 14, 2005). Vault Guide to the Top Financial Services Employers. p. 244. ISBN 9781581314168.
  3. ^ Nam, Rafael (June 12, 2007). "Allianz sells stake in Hana for $499 mln-source". Reuters. Seoul. Retrieved November 7, 2021.
  4. ^ a b Sohn, Ji-young (May 15, 2019). "Hana Financial wins suit against Lone Star on KEB deal". The Korea Herald. Retrieved Nov 23, 2019.
  5. ^ Chung, Joo-won (Jul 13, 2015). "Hana, KEB union agree on merger". The Korea Herald. Retrieved Nov 23, 2019.
  6. ^ Annual Report 2018. Hana Financial Group. p. 11.
  7. ^ "S Korea's Hana Bank to invest in China's Bank of Jilin". www.chinadaily.com.cn.
  8. ^ "PT. Bank KEB Hana Indonesia". www.hanabank.co.id. Retrieved 2021-06-15.
  9. ^ "Digandeng Bank KEB Hana, Line Bank Masuk RI Menyasar Pasar Milenial - Keuangan Katadata.co.id". katadata.co.id (in Indonesian). 2021-06-11. Retrieved 2021-06-15.
  10. ^ "S.Korea's Hana Bank completes $875 mln acquisition of 15% stake in Vietnam's BIDV". Reuters. Nov 11, 2019. Retrieved Nov 24, 2019.

External linksEdit