Arab Today, arab today head of hana bank disciplined for engaging in illegal lending
Last Updated : GMT 11:49:44
Arab Today, arab today
Arab Today, arab today

Head of Hana Bank disciplined for engaging in illegal lending

Arab Today, arab today

Arab Today, arab today Head of Hana Bank disciplined for engaging in illegal lending

Seoul - Yonhap

The president of Hana Bank, the fourth-largest lender in South Korea, has been disciplined for illegally providing loans to fund an ailing savings bank several years ago, financial industry sources said Tuesday. According to the sources, Hana Bank President Kim Jong-jun, then head of Hana Capital Co., allegedly invested 14.5 billion won (US$13.7 million) in a savings bank in 2011 using fabricated documents and skipping an approval process by the board of directors. Hana Capital failed to recollect 6 billion won.

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