In the years since the 2008 global financial crisis, Hana Financial Group has been successful in attaining qualitative growth and asset soundness at home and abroad over the past few years.

A variety of indices show that the nation’s fourth-largest financial group has made headway in its move to create an Asian Belt by expanding its presence in both the local market and overseas markets such as China.
 

Hana Financial reported a net profit of 482.6 billion won ($447 million) during the second quarter, up 103.6 billion won from a quarter earlier.

Analysts have described its performance noteworthy progress, attributing the profit increase to improvement in financial soundness thanks to the eased burden on accumulating loan loss reserves.

The group also saw its total assets climb by 4.2 trillion won to 211 trillion won on a quarter-to-quarter basis, buoyed by growth in loans to financially healthy customers.

The group’s flagship unit Hana Bank is targeting emerging Asian markets with ample growth potential including India, Vietnam, Cambodia, Indonesia and Malaysia.

It is also tapping countries with abundant natural resources such as Russia, Kazakhstan, Uzbekistan and Ukrai­ne.

The commercial bank is operating its corporate entity in Indonesia with 16 branches. It has representative offices in Ho Chi Minh, New Delhi and Dubai. Offices will also be opened in Moscow and London.

Hana Bank posted 476.9 billion won in net profits in the second quarter, up 82.2 billion won from a quarter before.

The bank saw its ratio of loan delinquency and substandard loans fall to 0.49 percent and 1.22 percent, respectively.

“We have pushed ahead with continues write-offs of bad loans and aggressive management of overdue lending,” a bank spokesman said.

In coordination with its brokerage affiliate Hana Daetoo Securities, the bank is looking to find new revenue resources in the investment banking sector.

In 2010, Hana Bank won an award for its efforts to provide consumer-oriented products and services.

By Kim Yon-se (kys@heraldcorp.com)