Bank Basic InformationNH
Bank is a special type of bank, which is neither a state-owned bank in the traditional sense nor a typical commercial bank. It is part of the National Federation of Agricultural Cooperatives (NACF) and is wholly owned through NongHyup Financial Group. Although it is not directly attributable to the government, it is greatly influenced by the government because of its important role in agricultural financial policy.
Name & Background
Full name of the bank: NongHyup Bank
Founded: March 12, 2012
Headquarters Location: 120 Tong-ro, Jung-gu, Seoul, South Korea 04517
Shareholder Background: Wholly owned by NongHyup Financial Group, which is wholly owned by NACF and is not listed.
Scope of serviceNH
Bank has 1,106 branches in Korea, making it the bank with the largest number of branches in Korea. In addition, it has 12 overseas branches, including New York, Beijing and Hanoi, and its service scope is mainly concentrated in South Korea.
Regulatory & Compliance
Regulators: Primarily regulated by the Financial Supervisory Service (FSS) and the Financial Services Commission (FSC).
Deposit Insurance Program: Joined the deposit insurance program of the Korea Deposit Insurance Corporation (KDIC) with a maximum protection amount of KRW 50 million per depositor.
Recent Compliance Record:
In 2017, a written agreement was signed with the U.S. Federal Reserve Board for anti-money laundering compliance issues.
On May 8, 2023, the regulatory action was officially terminated, indicating that the bank had completed rectification.
In January 2025, the Korea Financial Intelligence Unit (KoFIU) imposed a fine of 129.6 million won for violating the Act on Reporting and Use of Specified Financial Transaction Information, and disclosed the information of the person responsible for the first time.
Financial Health
Capital adequacy ratio: At the end of 2024, NongHyup Financial Group's capital adequacy ratio was 5.25%, which is lower than the average of major domestic financial groups.
Non-performing loan ratio: As of the end of 2024, NH Bank's non-performing loan ratio was 0.65%, which is higher than the average of major banks in South Korea.
Liquidity Coverage Ratio: According to regulatory requirements, NH Bank is required to maintain a liquidity coverage ratio of more than 80%. North Korea Business +2Sahm+2 Daily Economy +2
Deposits & Loans Products
deposits:
offers demand and time deposit products, with interest rates adjusted according to market conditions.
Featured products such as high-yield savings accounts and CDs are available.
Loans:
provides mortgages, car loans, and personal lines of credit, with interest rates and application conditions determined according to the customer's credit status and market interest rate.
Flexible repayment options are available, including early repayment and repayment plan adjustments.
List of common fees
Account management fee: Some accounts may charge a monthly or annual fee, depending on the account type.
Transfer fees: Domestic transfers are usually free, and cross-border transfers are subject to fees based on the amount and destination.
Overdraft fees: If your account is overdrawn, overdraft interest and processing fees may apply.
ATM Interbank Withdrawal Fee: ATMs using non-NH Bank may charge a fee.
Hidden Fee Alert: Some accounts may require a minimum balance and additional fees may apply if they are not met.
Digital service experience
APP and online banking:
Provide a full-featured mobile banking application and online banking services, supporting account management, transfer, bill payment and other functions.
The app supports facial recognition login, real-time transfers, and bill management.
Technological innovation:
AI customer service is introduced to provide an intelligent customer service experience.
Support open banking APIs to facilitate access to third-party financial services.
Customer Service Quality
Service channels: 24/7 phone support, live chat, and social media customer service with fast response times.
Complaint handling: There is a special complaint handling mechanism, the average resolution time is short, and the user satisfaction is high.
Multi-language support: Provide multi-language services such as English to facilitate cross-border users.
Security measures
Security of funds: Deposits are protected by KDIC up to a maximum of 50 million won.
Data Security: ISO 27001 certified, advanced anti-fraud technology and real-time transaction monitoring system are used to ensure the security of customer data.
Featured Services & Differentiation
market segments:
A fee-free account for students is available.
Provide exclusive wealth management products for the elderly.
Launched green financial products to support ESG investment.
High-net-worth services:
has a private banking department to provide customized financial solutions and exclusive services for high-net-worth customers.
Market Position & Accolades
Industry ranking: NH Bank has one of the largest assets in the Korean banking industry, with an extensive customer base and branch network.
Awards: It has won many industry awards such as "Best Digital Bank" and "Most Innovative Bank", reflecting its leading position in digital transformation and customer service.
