Hana Financial clinches prelim nod to set up asset manager in Singapore

The group said that its entry in Singapore is a springboard to expanding globally.

Hana Financial Group has clinched preliminary approval from Singapore’s Monetary Authority of Singapore (MAS) to establish an asset management company in the city, reports Yonhap News Agency, based on an announcement by the bank.

The bank didn’t specify when the final approval will be granted.

"The envisioned asset management company will cooperate with other subsidiaries to diversify revenue streams and pave the way for making inroads into other advanced markets," said Hana Financial Group Chairman Kim Jung-tai.

The group plans to use its entry in Singapore as a stepping stone for expanding its presence globally, saying that its entry into the country’s asset management market will help it secure a key Asian market.

Hana Financial Group is South Korea’s third largest financial group by capitalization, and is the parent of KEB Hana Bank.

Photo courtesy of Sava Bobov.

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Anju Abrol has over 30 years of banking experience.
Tse Yi-Mun will lead the bank’s north Asia branch as its managing director and group head.
Clients can now purchase SC Hong Kong’s wealth management products.
Citi plans to offer around 100 types of wealth products from the mainland.
Agents can apply for the loan through the BRILink Mobile application.
The delinquency ratio has been on the decline since May 2018.
The market is forecasted to rebound by over 15% in 2021.
The fund aims to achieve a potential monthly dividend payout of 5% per annum.
Its Vice President of Solution Consulting in Singapore discussed how to bridge the digital gap and humanise the banking experience in the new normal.
There is an increased demand for loans for home purchases and 'jeonse.’
The partnership is eyeing 16 million customers by 2025.
The U-Energy platform has nine partners that can support energy efficiency projects.
The bank expects its own climate financing in 2019-2021 to reach $17b.