[THE INVESTOR] NongHyup Bank’s overseas expansion has gained momentum with the launch of its representative office in India on June 29, a spokesperson of the agricultural bank said.

The office is located in the nation’s capital, New Delhi. It marks the lender’s fourth overseas office, following New York, Beijing and Hanoi.

NongHyup has been eyeing the growing Indian market since 2011 when it sent an employee to India to study the market. 

The spokesperson revealed that the bank plans expand its business through its offices spread out in Asian cities. NongHyup also revealed its plans to turn its Vietnam office into an authorized branch to conduct a wider range of activity.

“We will accelerate our effort to turn the representative office into a branch to provide broader financial services to clients in India,” said the spokesperson.

By Jung Min-kyung (mkj1105@heraldcorp.com)