Hana Bank opens new branches in India

Hana Financial Group has opened two new banking branches in India, extending its reach in one of Asia’s fastest-growing major markets.

The group said Monday it launched branches in Mumbai and Devanahalli, adding to existing sites in Chennai and Gurugram. The Devanahalli branch is the first opened by a Korean financial institution in Bengaluru.

Opening ceremonies were held in Devanahalli on Wednesday and in Mumbai on Friday, attended by Hana Financial Group Vice Chair Kang Seong-muk, officials from the Korean Embassy in Chennai, local residents and customers.

The openings complete what Hana calls its "One India" network, linking four strategic hubs in the north (Chennai), south (Gurugram), northwest (Devanahalli) and west (Mumbai). The milestone comes a decade after Hana entered India with its Chennai branch in 2015.

The company cited India’s appeal as a young, fast-growing economy, with more than half the population under 35, annual growth above 6 percent and rapid digitalization. The strategic significance, as well as the India’s supportive policies for foreign investors, have drawn more Korean companies in recent years, lifting demand for financial services.

Devanahalli, where Hana is becoming the first Korean financial firm to establish a presence, has emerged as a hub for India’s expanding tech and advanced-manufacturing sectors, including IT, biotech, semiconductors and aerospace. Hana aims to support financial access for high-tech manufacturing and R&D firms, advise tech-driven startups and expand retail services.

The Mumbai branch, located in the city’s central business district, will focus on asset diversification and improving financial access across India’s western economic belt. Operations will center on investment banking and syndication, trade finance and foreign exchange transactions, leveraging networks with local companies, listed firms and global financial institutions.

“Hana Financial Group is marking a new milestone in its global expansion with the launch of new branches in India, a core strategic market in the global supply chain network,” Kang said. “With Hana’s unique global capabilities, we will continue to grow and solidify our position as a trusted financial partner for Indians and Koreans residing in the country.”