Hana Financial Group

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Hana Financial Group, Inc.
하나금융그룹
Type Public (traded on the Korea Stock Exchange)
Traded as KRX: 086790
Founded 1971
Headquarters Seoul, South Korea
Key people Kim Jung-Tai, Chairman & CEO
Products Financial Services
Employees 12,380
Website http://www.hanafn.com/
Company Financials
Summarized Financial Information 2012
Profitability
Gen. Op. Income
Op. Income
Consolidated NI
ROA
ROE
EPS(KRW)
C/I
KRW 6,888.5Bil
KRW 1,981.4B
KRW 1,602.4B
0.60%
10.43%
6,569
51.47%
Financial Position
Total Assets
Total Equity
KRW283,722.2B
KRW20,374.2B

Hana Financial Group[1] (HFG) is one of the largest bank holding companies in Korea.

The company was established in 1971 as Korea Investment & Finance, the nation’s first financial company established, financed solely by private fund. 'Hana' is a word in Korean meaning "one" or "unity", and Hana Financial Group's symbol, "ㅎ", represents the first consonant of 'Hana or 하나' in Korean.

Hana Bank,[2] Hana Financial Group’s primary banking subsidiary, was converted into a commercial bank in 1991.[3] Hana Bank went through P&A with Chungchong Bank and M&A with Boram Bank in 1998, and acquired Seoul Bank in 2002. Then it continued its expansion by acquiring Daehan Investment and Securities, Korea’s second-largest asset management company, in May 2005. The most recent expansion was made in 2012, when it decided to purchase Korea Exchange Bank.

Hana Financial Group is in charge of setting up group-level business strategies and providing management resources to subsidiaries, including Hana Bank, Korea Exchange Bank, Hana Daetoo Securities, Hana SK Card, Hana Life Insurance, Hana Capital, Hana Asset Trust, Hana I&S, Hana Institute of Finance, and Hana Savings Bank.

Corporate Timeline[edit]

  • Nominated as No. 1 Underwriter of Corporate Bond in 1990
  • Converted to a commercial bank with a nationwide branch Network in 1991
  • Launched Credit Card Business in 1992
  • Acquired Chungchong Bank in 1999
  • Complete the Merger with Seoul Bank in 2002, becoming Korea’s 3rd largest bank
  • Launched Hana Life Insurance in 2003
  • Established Financial Holding Company in Dec. 2005 (Chairman & CEO: Seung-Yu Kim)
  • Purchased Hana Daetoo Securities in May 2005
  • Launched PT Bank Hana (Indonesia) in Dec.2007
  • Established UBS Asset Management in May 2007
  • Established Hana HSBC Life Insurance in Mar. 2008
  • Reorganized HFG to Matrix Structure in Mar.2008
  • Merged Hana Daetoo Securities and Hana IB Securities in Dec. 2008
  • Established Hana Credit Card Joint Venture with SK Telecom in Dec. 2009 [7]
  • Acquired Daol Trust in Mar. 2010
  • Purchased 18.27% shares of Bank of Jilin, China in May 2010
  • Signed SPA with Lone Star for Korea Exchange Bank (KEB) share acquisition in Nov. 2010
  • Signed on MOU with China Merchants Bank in Jan. 2011
  • Acquired 57.27% stake of KEB in Feb. 2012

Overseas network[edit]

Hana Bank established a program called the Hana Overseas Club in 1994 as a means to provide financial services to Korean expatriates living abroad, including those living in Canada, Australia, New Zealand and the United States etc.[4] Through the Hana Overseas Club, Hana Bank managed the Korean financial assets of its overseas customers. Hana Bank launched an advertising campaign for the Hana Overseas Club in July 1994, running advertisements in the Korea Times in Los Angeles, New York and other major cities.[5]

As of 2014 the Group’s strategies for global expansion have been focused on East Asia, China in particular. In 2007 the Hana Financial Group established a subsidiary in China, Hana Bank China, which came to have 13 branches in the world’s most populous market. In 2009 Hana Bank China was licensed to perform transactions involving China’s currency, the remnimbi, and debit card transactions. A year later, the Hana Financial Group acquired an 18.44% stake in the Bank of Jilin Co. Ltd.[6] In January, 2011 the group entered into a strategic alliance with the China Merchants Bank, which has large potential for growth in China and a credit card and retail banking business in local markets.

The Group has a significant presence in Indonesia. The Group operated 18 branches through PT Bank Hana, a local subsidiary in Indonesia set up by the Hana Financial Group in 2007. The Group hires most of the employees for its overseas operations from local communities. For instance, of the 255 employees at the Group’s Indonesian subsidiary, 98% are Indonesians, including three of the five members of the Board of Directors. In Mar. 2014, the group decided to integrate PT Bank Hana and PT KEB Bank, to establish PT Bank KEB Hana, the first integrated entity within the Group. The newly established entity now owns 40 branches with 571 employees.[citation needed]

Financial results[edit]

In 2011 operating income increased by 27.08% yoy and consolidated net income by 22.78%, while profitability indices including ROA, ROE, and EPS improved compared to the previous year. The C/I ratio increased by 2.81 percentage points.[citation needed]

HFG's total assets grew by 11.49% over the course of 2011. The balance of the Group's beneficiary certificates, but total sales rose by 2.54% due to an increase in deposits taken. Credit card membership increased by 9.48% to 4,540,000.[citation needed]

The NPL ratio decreased by 0.48 percentage points to 1.12%, and the NPL coverage ratio increased by 42.43 percentage points to 148.92%, with loans to creditworthy borrowers making up most of the increase in total loans. Hana Bank's delinquency ratio also decreased, to 0.48%. HFG reached 13.22% in BIS ratio and 9.43% in Tier 1 ratio. Corresponding indices at the Group's subsidiaries hovered above government-set requirements.[citation needed]

Family companies[edit]

Hana Headquarters, Seoul, Korea
Flagship Branch, Myeong Dong, Seoul, Korea
Vision, Mission, Strategic Goal and Core Value of Hana Financial Group
  • Hana Bank
  • Korea Exchange Bank (KEB)
  • KEB F&I
  • KEB Futures
  • KEB Investor Services
  • Hana Daetoo Securities (formerly Daehan Investment & Securities)(merged Hana IB Securities in 2008)
  • Hana SK Card
  • Hana Life Insurance (formerly Hana HSBC Insurance)
  • Hana Capital
  • Hana Asset Trust
  • Hana Asset Management
  • Hana I&S
  • Hana Institute of Finance
  • Hana Savings Bank
  • 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, USA) (http://www.hanafinancial.com) is not a member of Hana Financial Group (Korea).[7] Hana Financial, Inc. and Hana Bank use the English word “Hana” in their names and offer financial services in the United States. Hana Bank is a Korean entity established in 1971 as Korea Investment Finance Corporation. In 1991, it adopted its current name. Hana Financial Group Inc.( http://markets.ft.com/research/Markets/Tearsheets/Summary?s=A086790:KSC) was incorporated as the Bank’s holding company in 2005, but it does not provide services in the United States in the United States. Hana Financial, Inc. is a California corporation that was incorporated on August 15, 1994.[8]

Former companies[edit]

  • Hana IB Securities (formerly Hana Securities in 1999~2007 and HFG IB Securities in July 1~July18th 2007)(merged into Hana Daetoo Securities in 2008)
  • Hana Allianz Investment Trust Management (currently Allianz Global Investors Korea)
  • Qingdao International Bank

See also[edit]

References[edit]

External links[edit]