View of NH Nonghyup Bank headquarters. (Photo=NH Nonghyup Bank)

 

[Alpha Biz= Reporter Kim Jisun] NH NongHyup Bank has confirmed two additional cases of excessive lending due to overvaluation of real estate prices, following a similar incident in March.

On the 22nd, NH NongHyup Bank announced through a management disclosure that two financial incidents, classified as document forgery and breach of duty, had occurred.

The total amount involved in these financial incidents is approximately 6.45 billion KRW, with one case amounting to 5.34 billion KRW and the other to 1.10 billion KRW.

The first case was identified at Branch A, where an excessive loan was granted based on an inflated real estate appraisal, resulting in an estimated loss of 150 million KRW.

In the second case, at Branch B, the bank failed to detect forged documents provided by a debtor, which also led to an excessive loan of about 299 million KRW due to overvaluation of the real estate.

These incidents were uncovered during an extensive internal audit conducted after a financial incident was reported in March.

 

 

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