Opening of LA Branch by Hana Bank USA Scheduled for August
Securing a Global Customer Base through Expansion of Local Channels and Establishment of a Strategic Foothold in North America
Hana Financial Group is set to establish a strategic foothold in North America for the first time in 17 years. By adding a local channel in North America, a leading global financial market, the group aims to accelerate the expansion of its business operations in the region.
On July 14, Hana Bank announced that it will open an LA branch at its local subsidiary, Hana Bank USA, in August. Hana Bank USA, which focuses primarily on small and medium-sized enterprise loans and retail banking, has previously concentrated its business capabilities in the eastern region, including New York and New Jersey, through its headquarters, New York branch, and Flushing branch. With the opening of the LA branch, the bank plans to actively target the western region, where the largest population of Korean Americans resides.
Currently, Hana Bank's New York branch, which specializes in IB syndicate loans and large-scale local corporate banking, serves as the main hub. Its subsidiaries, KEB Hana New York Financial and KEB Hana Los Angeles Financial, are located in the eastern and western regions, respectively, focusing on corporate finance. Hana Bank USA, as a local community bank, leads retail banking and financial support for individual entrepreneurs in the New York and New Jersey areas.
Previously, during its time as Korea Exchange Bank, Hana Bank operated five branches in New York, Los Angeles, Chicago, Seattle, and other cities. However, after being acquired by Lone Star in 2003, all 16 U.S. networks, including these branches, were closed in accordance with regulations from U.S. financial authorities.
The opening of the LA branch is significant as it is the first branch Hana Bank USA has established since acquiring its predecessor, Broadway National Bank, in 2013. It also marks the launch of retail and SOHO (Small Office/Home Office) business in California, which has the largest overseas Korean population (570,000 people).
Furthermore, the opening of the LA branch is expected to go beyond a simple physical channel expansion. It is anticipated to lead to: ▲ integration with digital-based global platforms, ▲ strengthened cooperation with promising local startups and fintech companies, and ▲ the launch of specialized financial products for Korean Americans and local residents.
In addition, Hana Bank Canada, another key pillar of the group’s North American operations, currently operates seven branches focusing on retail real estate loans. The bank plans to expand its business scope to include corporate and IB syndicate loans by reorganizing its systems and personnel.
The financial markets in North America, including the United States and Canada, are known for their strict regulatory environments, making it difficult for foreign financial institutions to expand their operations compared to other regions. In the United States, there have been cases where Korean banks faced penalties and sanctions in the past. Similarly, in Canada, supervisory authorities apply stringent standards to foreign banks during audits and inspections.
Despite this unfavorable environment, Hana Bank has maintained the longest operational history among Korean financial institutions in the United States (48 years) and Canada (44 years). While other major domestic banks operating in the United States and Canada have faced challenges with local financial authority audits, Hana Bank received positive evaluations in June, as all previous restrictions imposed by local financial authorities in both countries were lifted.
A Hana Financial Group representative stated, "The United States is the global center of finance, and sophisticated and prompt local services are essential to meet the advanced needs of a diverse customer base. This channel expansion is a strategic move to solidify our position in the North American market and to lay the foundation for our leap toward becoming a global top-tier financial group."
Meanwhile, Hana Financial Group has established its 'Global Finance Group' vision as a mid- to long-term group-level strategy, and is working to expand its global business base in regions including North America, Asia, Europe, and Central and South America. As of the end of May 2025, Hana Financial Group operates 200 global networks in 26 regions worldwide and is striving to continuously increase the proportion of overseas business in the group's total revenue.
Additionally, Hana Bank plans to strengthen financial support for Korean companies expanding overseas through organic connections between its global networks, while also serving as a bridgehead for foreign companies seeking to enter the Korean market.
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