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Hana Financial opens Devanahalli, Mumbai branches in India amid overseas expansion drive
Hana Financial Group Vice Chairman Kang Seong-muk, center, and guests cut ribbons at the Mumbai Branch opening ceremony in India, Friday (local time). Courtesy of Hana Financial Group
By Lee Kyung-min
Hana Financial Group has opened new branches in Devanahalli and Mumbai, in a move to strengthen its global expansion drive in the Indian market, the group said Monday.
The establishment of two branches completes the group’s One India network, cementing its presence in one of the world’s fastest-growing economies as well as its proximity to global supply chains and India’s rapidly expanding industrial ecosystem.
Hana plans to enhance financial access for Korean businesses there, support local industries, and sharpen its competitiveness in global corporate and investment banking.
The openings also demonstrate the group’s commitment to maintaining close customer communications backed by hands-on, practical and on-the-ground experience.
Hana said it opened the Devanahalli branch on Dec. 3 (local time) and the Mumbai branch on Dec. 5.
The group’s two previous branches were opened in Chennai in 2015 and Gurugram in 2019.
Together, the four branches serve the country’s southern, northern, southwestern and western regions, helping Hana deliver region-specific financial support and respond more quickly to Korean and local corporate clients.
Key services include supply chain and project financing operations and its digital-based retail banking services.
The Devanahalli branch is the first entry for a Korean financial institution into the nearby city of Bengaluru, widely regarded as the “Silicon Valley of India” after emerging as a hub for advanced industries including IT, biotechnology, semiconductors and aerospace.
Hana plans to use its presence there to support advanced manufacturing and research-focused companies, provide consulting services for technology-driven startups, and enhance its retail banking offerings.
The Mumbai branch will focus on investment banking, syndicated loans, trade finance and foreign exchange services.
Hana plans to further diversify its asset portfolio and strengthen financial accessibility for businesses operating across western India.
The opening ceremonies were attended by Hana Financial Group Vice Chairman Kang Seong-muk along with senior diplomats from Korea, as well as local business leaders and Korean residents in India.