Hana Bank Korea Exchange Bank Kookmin Bank Nonghyup Bank Shinhan Bank Woori Bank
Hana Bank KEB Kookmin Bank Nonghyup Bank Shinhan Bank Woori bank

Bank of Korea – The central bank of South Korea founded on June 12, 1950 under the Bank of Korea Act. The primary purpose of BOK is to pursue price stability.

Busan Bank – A regional bank providing a complete range of financial services for personal customers. The main shareholders are Aberdeen Asset Management Asia, Lotte group, National Pension Service, Capital Research & Global Investors, Parkland and Templeton.

DGB Financial Group – A South Korean banking holding company. Its flagship company, Daegu Bank, is one of the largest regional banks in the country, mostly serving customers in the Daegu-Gyeongbuk region. The Group was established in May 2011 and is headquartered in Daegu.

Industrial Bank of Korea (IBK) – IBK provides commercial banking services to small and mid-sized companies. The Bank leads South Korea in small business loans, which represents approximately 81% of its lending portfolio. The government owns a 57.7% majority in IBK. The company’s total loan balance stood at KRW 152 trillion at the end of 2014.

Hana Financial Group – One of the leading banking groups in South Korea with the largest global network in the Korean financial industry. As of January 16, 2017, it had a market capitalization of US$8.2 billion.

Korea Exchange Bank (KEB) was the fifth largest Korean commercial bank in terms of local banking deposits. The Bank mainly operated in Korea. It was acquired by Hana Financial Group in 2012 and merged with Hana Bank in 2015.

KEB Hana Bank was launched through the merger of KEB and Hana Bank on September 1, 2015. The new Bank have about 950 branches with assets totaling 295 trillion won.

KB Kookmin Bank – The largest retail bank in South Korea. It has the most extensive branch network and the largest customer base in Korea. KB maintains the biggest market share in deposits and loans and has the highest rating of AAA from two local credit rating agencies, National Information & Credit Evaluation and Korean Investors Service Inc.

Korea Development Bank (KDB) – A wholly state-owned bank. It was founded in 1954 in accordance with Korea Development Bank Act to finance and manage major industrial projects and enhance the national economy.

Kwangju Bank – A regional bank located in Kwangju city, Korea. It provides a wide range of financial services for SMEs and individuals. It offers deposit products, loans, credit cards, insurance, foreign currency exchange, online banking and other services.

Korea International Merchant  – Korea International Merchant Bank merged with KEB on 1 January 1999.

Nonghyup Bank – The Bank for Korean farmers. It operates as a subsidiary of NongHyup Financial Group.

Shinhan Bank – One of the largest banks in South Korea with over 18 million customers and 900 branches nationwide. It is the main subsidiary of Shinhan Financial Group.

The Export-Import Bank of Korea (KEXIM) – One of Korea’s three policy banks. It is an official export credit agency providing export credit and guarantee programs to support the international business development of Korean companies. The bank has 10 local branches and 12 overseas offices.

Woori Bank – One of the largest commercial banks in the country with over 20 million customers, 15,000 employees and $284 billion in assets.

Top Banks in South Korea

  Total assets (KRW m)

Rank Company 06/2016 12/2015 12/2014 12/2013 12/2012
1 Shinhan Financial Group 390,285,325 370,548,003 338,021,804 311,290,553 304,939,225
2 NongHyup Financial Group 363,200,000 339,841,175 315,714,239 254,535,000 248,499,400
3 KB Financial Group 343,198,122 329,065,467 308,355,708 291,838,155 285,751,054
4 Hana Financial Group 326,685,172 326,912,708 315,548,246 295,188,639 283,722,235
5 Korea Development Bank n/a 309,491,773 276,704,819 258,511,382 165,779,617
6 Woori Bank 308,818,351 291,859,072 270,157,219 340,690,382 327,101,814
7 Industrial Bank of Korea 249,777,844 239,842,781 219,760,786 212,582,797 198,270,298
8 BNK Financial Group * 104,894,700 101,228,500 93,322,500 51,130,000 42,906,818
9 DGB Financial Group (DGBFG) 53,464,969 51,144,446 41,009,707 37,577,822 34,217,794

* BNK Financial Group was formerly known as BS Financial Group.