Hana Bank USA has reopened a branch in Los Angeles for the first time in 21 years, marking a significant milestone in its North American expansion strategy.
The bank, a subsidiary of Hana Financial Group in South Korea, held a grand opening ceremony on August 25 at its new location on the first floor of The Bora 3170 building at 3194 W. Olympic Blvd in Koreatown. The ribbon-cutting event was attended by Eun-hyung Lee, Vice Chairman of Hana Financial Group; Hong-sa Kwon, Chairman of Bando Construction; and Youngwan Kim, Consul General of South Korea in Los Angeles.
In his congratulatory remarks, Lee said, “Opening a new branch in Los Angeles has been a long-standing goal for Hana Financial Group. We will prioritize our customers by offering tailored wealth management services that meet the needs of both businesses and individuals.”
The Los Angeles branch is Hana Bank USA’s first newly established branch since acquiring Broadway National Bank (BNB) in 2013. It joins the bank’s headquarters in New Jersey and branches in Manhattan and Flushing, New York, becoming its fourth U.S. location.
This is also Hana Financial Group’s first new North American branch in 17 years, following its entry into Canada in 2008. The reopening holds symbolic importance, as the bank previously operated in LA and Seattle under its former name, Korea Exchange Bank, but closed its U.S. branches in 2004 after being acquired by Lone Star due to regulatory requirements.
The branch began limited operations last week and officially opened for full service with the ceremony.
Byung Hyun Lee, CEO of Hana Bank USA, emphasized the bank’s commitment to trust and capability. “We are focused on strengthening our digital financial services to become a reliable partner for customers traveling between the U.S. and Korea and for the Korean American community,” he said.
Hana Bank USA is a community-based bank specializing in small business lending and personal banking services, historically centered in the Eastern U.S. With this new branch, the bank plans to expand its presence in California, home to the largest Korean American population in the United States.
The Los Angeles branch is also intended to serve as a hub for introducing specialized financial products, strengthening partnerships with local fintech and startup companies, and connecting global services through the bank’s digital platforms.
Hana Financial Group operates more than 200 global networks across 26 countries and continues to invest strategically in overseas markets.
According to its quarterly call report filed with the FDIC, Hana Bank USA reported a cumulative net profit of $7.62 million for the first half of this year and total assets of $646.16 million.
BY HOONSIK WOO [woo.hoonsik@koreadaily.com]
