Hana Bank and Korea Exchange Bank (KEB) have completed the merger of their Chinese subsidiaries.
The integrated Chinese unit comprises KRW 7.8tn of assets, KRW 910bn of equity capital, 30 branches and 775 employees.
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The group plans to promote its Chinese unit as one of the top five foreign banks in China within the next 10 years.
Kim Jung-tae, group chairman, said, "Hana Bank’s forte in retail banking and KEB’s skills in corporate banking and investment will create a positive momentum."
Hana Financial Group is also planning to integrate the domestic operations of Hana Bank and KEB by the first quarter of next year.
The group previously merged its Indonesian banking units in March and the domestic credit card units earlier this month.
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By GlobalDataIn 2012, Hana Financial Group acquired KEB from US private equity investor Lone Star Funds for KRW3.9tn ($3.5bn).
The acquisition helped Hana boast the largest overseas network among South Korean financial groups with 128 branches in 24 countries.
