Nonghyup Bank

Nonghyup Bank (NHBank)
Native name	NH농협은행
Company type	Private
Industry	Banking
Founded	March 12, 2012; 12 years ago
Headquarters	Seoul, South Korea
Area served	South Korea
Key people	Lee Seok-young (CEO)
Revenue	KRW 17.837 trillion (2022)
Operating income	KRW 2.78 trillion (2022)
Net income	KRW 1.8 trillion (2022)
Total assets	KRW 2.38 trillion (2022)
Members	16,186
Number of employees	16,163 (2022)
Korean name
Hangul	농협은행
Hanja	農協銀行
Revised Romanization	Nonghyeop Eunhaeng
McCune–Reischauer	Nonghyŏp Ŭnhaeng
Website	www.nhbank.com

Nonghyup Bank or NH Bank (Korean: 농협은행, SWIFT: NACFKRSE) is a specialized agricultural bank in Korea and is in charge of financial services, headquartered in Jung-gu, Seoul, South Korea. The bank was established by the split-off of the credit and banking business from National Agricultural Cooperative Federation (“NACF”) on March 2, 2012. It is now owned by the Nonghyup Financial Group. The predecessor of Nonghyup Bank started as Agricultural Bank established in 1907 as a financial association.

Unlike other major commercial Korean bank, Nonghyup bank is established with 100% domestic capital.^[1] Nonghyup bank has 1,106 branches in domestic area, and 12 branches outside Korea, including New York, Beijing, Hanoi. It has the largest number of branches in Korea.^[2]

On 29 April 2021, Nonghyup Bank was granted a Hong Kong banking licence.^[3]

History

1907: Establishment of a financial association
1958: Agricultural Bank launched based on financial cooperatives
1961: Agricultural Bank and Nonghyup were merged, and the urban branch of Agricultural Bank was separated into Small and Medium Business Bank.
2000: Merger of the National Agricultural Cooperative Federation, National Livestock Cooperative Federation, and National Ginseng Federation of Korea
2012: Nonghyup National Association's credit business was separated into NH Nonghyup Financial Group and launched as a subsidiary.