NH Bank launched its NH ISA Balance Accounts, an individual bank account product that leaves its handling to the bank, from May 22, the bank said recently.
The ISA products, which can manage diverse financial products through its accounts, enjoy the benefits of tax breaks. They are divided into “trust” accounts and leave their management up to the banks.
For the trust ISA accounts, customers have to visit a bank’s branch or outlet to open an account. However customers of “leave the management” accounts can open an account on mobile their online facilities, and the bank will take care of customers’ accounts with the model Portfolio, which is tailor-made for their investment needs and patterns.
For customers who are rather inclined to depend on the banks for the management of their funds, the NH ISA Balance could be the right product to choose from, as the products strengthen the professionalism of investment management professionals and make good returns from the risky fund investments.
NH Bank is proud of the fact that its investment professionals are top experts in their respective areas and they come up with the best model portfolios through economic analyses and market prospects. They come up with six portfolios, including two for “stable” investment types, another two for “neutral risk” types and the final two for “aggressive” investment types.
The bank signed an agreement with a professional investment advisory firm for consulting, hoping to make its investment portfolio one of the most-diversified in the financial community and boost its profitability.
The ISA Balance Portfolio includes domestic bonds, money market funds, and domestic and overseas stocks to boost the profitability of the portfolio.
The bank assigned some of its top investment experts to handle the NH ISA Balance products with more than 10 years experiences working for securities firms.
According to the 2014 CSR Report of Banks released by the Korea Federation of Banks (KFB), NH Nonghyup Bank spent 99.1 billion won (US$85.5 million) for CSR activities last year, the highest figure in the banking industry. The bank has topped the list for four straight years from 2011, and its annual average of CSR costs from 2006 to last year exceeded 100 billion won (US$86.28 million).
By sector, NH Nonghyup Bank spent 56.7 billion won (US$48.92 million) in community and public service areas, 17.4 billion won (US$15.01 million) in scholarship and education, 8.6 billion won (US$7.42 million) in mecenat and sports, 900 million won (US$776,531) in environment, 100 million won (US$86,281) in global areas and 15.4 billion won (US$13.29 million) in small-loan finance. Its employees’ volunteer services play a vital role in the bank’s “sharing management.” They have been actively participating in various community service activities, including support for the disadvantaged and talent donation.
NH Nonghyup Bank has volunteer groups in 157 cities and counties across the nation, and the groups involved in 3,561 community service activities, such as working at farming villages, and supporting rice and kimchi to people in need, last year alone. As for the accumulative records, its 60,000 employees participated in community services.
An extension of the National Agricultural Cooperative Federation’s financial operations, NH Bank was established in March 2, 2012 with purely domestic, private capital.
Since its foundation in 1961 as a comprehensive agricultural cooperative, it has been recognized as the safest bank in Korea and as the most advanced cooperative financial institution around the world thanks to its half-century proven track record in financial operations.
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