Presence for Southwest Asia
NongHyup Bank (NH Bank) began its business on June 29 with an opening ceremony held in New Delhi, India on June 29, attended by some sixty people, including the President of International Co-operative Alliance (ICA) Asia-Pacific and the Korean Minister to India.
NH Bank, which had started from dispatching resident employees to New Delhi in 2011, established a plan to open its office in 2014 and to obtain business certificates from local and Korean authorities and opened the office within the first half of 2015. In addition, the major Korean bank signed a comprehensive business agreement for financial cooperation with Axis Bank specializing in corporate financing as the fourth largest private sector bank in India.
NH Bank, which is already operating its business in New York, Beijing, and Hanoi, has been on the fast track to build an Asian financing belt by opening an office at New Delhi, which can serve as a platform for its entry into Southwest Asia.
At the opening ceremony, Lim Jeong-soo, manager of future strategy division of the bank, said, “We will push to level up the current office to a branch as soon as possible to provide a wide range of financing services for Korean companies and residents in India, and will make aggressive efforts to transfer Korean knowledge on agricultural finance and enhance common benefits of the two countries by taking advantage of our strength.”