NH NongHyup Bank Receives Final Approval for London Branch... Four Years After Opening Representative Office

NH NongHyup Bank announced on July 1 that it has received final approval from the UK financial authorities (PRA, FCA) to establish its London branch.

The London branch will be NongHyup Bank's first overseas branch in the European region. This achievement comes about four years after the bank began pursuing branch establishment with the opening of its London representative office in 2021. It is also the first time in 34 years that a major Korean bank has entered the UK market.

Through the London branch, NongHyup Bank plans to establish a bridgehead for expanding its global investment banking business in the EMEA (Europe, Middle East, and Africa) region. The bank also intends to provide financial services to Korean companies operating in Europe, as well as to local companies seeking financial connections with Asia.

The London branch will officially begin operations on July 15. With this addition, NongHyup Bank will operate a total of seven overseas branches, two subsidiaries, and two representative offices across the United States, Asia, Oceania, and Europe.

Kang Taeyoung, CEO of NongHyup Bank, stated, "The London branch, as our first branch in Europe, will serve as a strategic hub for revitalizing our global investment banking business and discovering synergistic opportunities within the broader NongHyup Group."