NH Nonghyup Bank Launches Credit Review Improvement Initiative

On April 29, NH Nonghyup Bank announced that it had held a kickoff meeting for the "Credit Process Improvement Project" at its headquarters in Jung-gu, Seoul the previous day, with the goal of achieving zero credit-related incidents.

This project aims to improve internal regulations and processes to preemptively control improper loans caused by inflated appraisal or sales prices, as well as the submission of forged or falsified documents.

The four main objectives of the project are to minimize human involvement in the credit process, establish control measures for each type of improper loan, minimize legal risks in internal regulations, and build a mutual verification system to prevent credit-related incidents.

NH Nonghyup Bank plans to establish an organic collaborative system among dedicated credit-related teams and to gradually implement the improved processes by the end of this year, making every effort to preemptively prevent potential credit incidents in the future.

Kim Sunghoon, Executive Vice President of the Credit Review Division at NH Nonghyup Bank, stated, "Credit incidents are directly linked to customer trust. Through this project, we will fundamentally block such incidents and become a more trusted financial institution."

On the 28th, at the NH Nonghyup Bank headquarters, Kim Sunghoon, Executive Vice President of the Credit Review Division (fifth from the right in the first row), along with employees and affiliates, participated in the kickoff meeting for the Credit Process Improvement Project. Provided by NH Nonghyup Bank

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