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Home > Company Index > Banking > Money Center Banks > Hanvit Bank

Hanvit Bank
 PROFILE
If you've got a few trillion won to spare, "Hanvit" over. Formed by the merger of Hanil Bank and Commercial Bank of Korea, Hanvit Bank is one of South Korea's biggest -- and one of its biggest losers. Bad loans have hammered the company's bottom line; it had the largest amount of bad loans among South Korea's commercial banks in 1999. Through attrition and branch closures (Hanvit went from about 900 to 700 offices worldwide), Hanvit -- whose name means "leading light" -- hopes to be the guide other banks follow as it strives towards profitability in an increasingly global financial market. The South Korean government owns about 75% of the bank and has given it an infusion of capital to aid its restructuring.

 COMPETITION
Kookmin Bank (dossier)
Korea Exchange Bank (dossier)

 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 4,477.60
1-Yr. Sales Growth: (18.1)%
Employees: 11,116
Revenue per employee: $402,806.77

 KEY PEOPLE
• Jin Man Kim
    CEO
• Jong Lee
    CFO

 CONTACT INFO
Hanil Bldg., 130 Namdaemun-ro, 2-ka Chung-gu, CPO Box 1033
Seoul 100-795, South Korea
Phone: 82-2-2002-3000
Fax: 82-2-2002-5690
Online: Web Site

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