Hana Bank's China Subsidiary Achieves 10 Billion Yuan in Personal Loans... First Korean Bank to Do So

Effectiveness of Launching Contactless Small-Amount Mobile Loan Products

[Asia Economy Reporter Minwoo Lee] Hana Bank has become the first Korean bank to achieve 10 billion yuan (approximately 1.9343 trillion KRW) in personal loans since entering China. The success is attributed to non-face-to-face mobile loans.

Hana Bank announced on the 19th that Hana Bank China Limited (hereinafter referred to as the China branch) has reached 10 billion yuan in personal loans, including both online and offline channels. This achievement came three years after launching a big data-based "non-face-to-face small mobile loan" service in September 2019, which provides consumer finance services similar to credit cards.

The online-centered "non-face-to-face small mobile loan" product was launched through partnerships with leading Chinese ICT platforms, including Alibaba, a major Chinese big-tech e-commerce company, Baidu, the largest Chinese portal company, and Ctrip, the largest online travel agency in China.

Hana Bank views this successful experience of its China branch as an opportunity to apply it to other overseas regions in the future. Additionally, in the second half of the year, as part of its digital innovation projects, the bank plans to launch new types of digital loan and deposit products for individual business owners (or individuals) in collaboration with Chinese platform companies.

Seo Young-chan, Deputy Head of Hana Bank China branch, stated, "We will actively expand our digital customer base by overcoming the limitations of offline business and focusing on digital financial services through active collaboration with major overseas digital platforms."

This content was produced with the assistance of AI translation services.