Hana Financial Group has been boosting the number of its multi-purpose branches since December 2006, with seven now located in the capital area to create synergy from the merger of Hana Bank and Korea Exchange Bank.
In the past decade since it first set up a multi-functional outlet, the number of branches has grown to 21 as of September, and those banking outlets have been contributing heavily to the group’s earnings as they cope with fast-changing trends in the financial industry. It comes at a time when the walls dividing financial sectors such as securities, banking, and insurance are coming down.
What sets the multi-functional financial outlets of the group apart from others has been that 13 of them are located close to PB Centers, providing one-stop service where customers can access the bank’s securities affiliates’ services, creating synergy.
In his congratulatory remarks, Chairman Kim said, “The IPC will be the Group’s new and important channel for global asset management and investment by offering customers differentiated service that meet their needs.” All customers will have access to the most professional private banking service provided by Hana Bank, the most well-known asset management house in Korea.
As such, customers will have their needs met in areas such as asset management in real estate, stocks, funds and bonds; investment consulting for the sale of domestic companies; investment in real estate and M&As, tax and legal consultations; and will even receive information about tourism and cultural events.
The IPC is staffed with an extraordinary range of specialists on China, who have accumulated real-world corporate banking experience in Hana Bank China after completing MBA courses in China; Gold Club PB staff who have allied a career in foreign exchange with their major in the Chinese language; and Chinese staff on the FDI desk, all of whom have been trained as China specialists by the Group.
Indeed, Hana Financial Group has a track record advising and providing corporate banking services to Chinese companies seeking to invest in Korea: the acquisition of Tongyang Life Insurance by Anbang Insurance Group, the acquisition of Agabang & Company by the Lancy Group, and the acquisition by Greenland Group.
Meanwhile, the IPC is already planning to expand its range of products and services for comprehensive global asset management and is collaborating with Chinese banks to design premium services for wealthy Chinese individuals considering investing in Korea.
In particular, the recent domestic success of ‘Trust’ and ‘Living Trust’, Hana Bank’s real estate management service package, has seen this package gain popularity among Chinese investors in Korean property. The package offers comprehensive asset management for the entire process of property investment in Korea — the purchase of domestic real estate, building, lease, management, disposal and inheritance.
Starting with the first IPC in Gangnam, Seoul, Hana Financial Group plans to complete a global IPC network by opening IPCs in Jeju, Busan, Incheon, Shanghai, Beijing, Hong Kong, New York, and Canada, within the year. The group intends to set the operational sectors connecting its various affiliates, especially, securities firm branches and bank branches so that they can be an independent operational common sector to create synergy and strengthen them.
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