Jeonnam Province's Primary Treasury Bank Selected as NH Nonghyup Bank, Secondary as Gwangju Bank
[Muan=Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Jeonnam Province announced on the 7th that NH Nonghyup Bank was selected as the first priority institution for treasury operation, and Gwangju Bank as the second priority.
The Jeonnam Province Treasury Designation Deliberation Committee, composed of various financial experts including provincial assembly members, professors, and certified public accountants, made the final decision on the treasury through evaluation.
Based on the proposals submitted by the applicant financial institutions, the committee conducted deliberation and evaluation on five criteria according to the Ministry of the Interior and Safety's treasury designation standards (regulations) and the "Jeollanam-do Treasury Designation and Operation Ordinance": ▲internal and external creditworthiness and financial structure stability ▲loans and deposit interest rates for the province ▲convenience for local residents ▲treasury operation management capability ▲collaborative projects with the local community and the province.
According to the results of the Treasury Designation Deliberation Committee, the province plans to officially designate NH Nonghyup Bank as the first treasury and Gwangju Bank as the second treasury, and conclude agreements by the end of this month.
The treasury agreement period will be from next year until 2023. The first treasury will handle the general account and regional development fund, while the second treasury will be responsible for seven special accounts and sixteen funds.
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Based on the third supplementary budget of Jeonnam Province this year, the budget scale amounts to 8.6247 trillion won for the general account, 864.6 billion won for special accounts, and 1.2702 trillion won for funds (including 756.5 billion won for the regional development fund), totaling 10.7595 trillion won.
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