NH NongHyup Bank's corporate lending tops W120tr for first time

NH NongHyup Bank's corporate loan balance has surpassed 120 trillion won ($88.3 billion) for the first time since the bank's launch in 2012, driven by its push to expand productive finance.

The bank's corporate loan balance stood at 121.001 trillion won as of end-August, up 7.46 trillion won from the start of the year, according to financial industry data released Friday. As of end-July, the balance had risen 6.41 trillion won, or 5.65 percent, from the beginning of the year — the highest growth rate among the five major banks. In terms of absolute increase, it ranked third, behind Hana Bank and KB Kookmin Bank.

Behind the growth is a sales strategy centered on productive finance. NH NongHyup Bank designated 269 advanced strategic industries and 202 regionally specialized industries, then launched a dedicated product — the NH Future Growth Corporate Loan — and rolled out intensive marketing around it.

The bank also signed a series of financial agreements with promising companies and related institutions. Starting with a partnership with OCI in April to foster future strategic industries, it signed MOUs in June with the Korea Ocean Business Corporation to strengthen the maritime industry's competitiveness and with Korea Aerospace Industries (KAI) to support the K-defense and aerospace sectors.

As a result, NH NongHyup Bank reached its annual productive finance target of 12.6 trillion won ahead of schedule on Aug. 14, and the NH Future Growth Corporate Loan balance exceeded 2 trillion won. Going forward, the bank plans to deepen regionally focused productive finance through two new hubs aligned with the government's national balanced-growth policy: a maritime, aviation and defense comprehensive support center in the southeastern region, which opened April 13, and a North Jeolla financial hub in the southwestern region, which opened Tuesday.

The bank is also pursuing inclusive finance in parallel to support small business owners and the self-employed who struggle to secure funding. It has made special contributions to 17 regional credit guarantee foundations nationwide to sustain guarantee-backed financial support, while linking specialists at its Seoul headquarters with NH Soho and Corporate Growth Partnership Centers across five regional zones to provide tailored management consulting and market-access assistance. The bank also plans to significantly expand dedicated financial services for business succession to support generational transitions and corporate continuity.

"Reaching 120 trillion won in corporate lending is the result of proactively channeling funds to where growth engines are needed, at the right time," a bank official said. "We will continue to strengthen our role in productive finance and inclusive finance as a steadfast partner for our corporate customers."