NH Nonghyup Financial “Concerns Over Expanding Corporate Insolvency... Strengthening Loss Absorption Capacity”

Second Half Risk Strategy Meeting Held

NH Nonghyup Financial Group announced on the 26th that it held a second half risk strategy meeting attended by more than 40 Chief Risk Officers (CROs) and practical managers from all its affiliates.

The meeting, held on the 25th at the Nonghyup Capital headquarters in Yeouido, Seoul, was chaired by Kang Shin-no, Vice President in charge of risk at Nonghyup Financial. It included an awards ceremony for outstanding risk management offices in the first half of the year and a review of risk management initiatives during the first half. Discussions were also held on risk factors and countermeasures for the second half.

In particular, Ahn Ki-tae, Deputy Head of the Research Division at NH Investment & Securities, gave a special lecture titled “Domestic and International Economic Outlook and Major Risk Factors for the Second Half,” identifying interest rate uncertainty as the biggest risk factor and calling for differentiated responses according to various interest rate scenarios.

Vice President Kang emphasized, “With the continuation of high interest rates, there is a concern that losses such as corporate insolvencies may increase, so it is necessary to strengthen loss absorption capacity centered on meticulous soundness monitoring.”

Nonghyup Financial stated that it plans to proactively respond to second half risk factors such as deterioration in household and corporate soundness and increased market volatility, as well as thoroughly comply with the strengthening supervisory regulations.

Kang Shin-no, Head of Risk Management Division at NongHyup Financial (sixth from the left in the front row), along with the Chief Risk Officers (CROs) and operational managers of each affiliate, are posing for a commemorative photo at the '2023 Second Half Risk Strategy Meeting' held on the 25th at the NongHyup Capital headquarters in Yeouido, Seoul. Photo by NH NongHyup Financial Group

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