(Photo = NH Nonghyup Bank)

 

[Alpha Biz= Reporter Kim Sangjin] NH Nonghyup Bank has encountered a significant default issue involving a real estate project (PF) loan amounting to 170 billion KRW.

According to iNews24 and financial sector sources on August 30, the bank confirmed that a default occurred in its 170 billion KRW real estate PF loan portfolio. The problematic loans are related to a local knowledge industry center project, which recently began experiencing delinquencies, prompting an internal audit.

NH Nonghyup Bank has initiated the audit as part of its post-loan management process to determine whether there was any deliberate wrongdoing or errors by involved parties during the loan approval process.

Internally, the bank is also considering the possibility of embezzlement or misappropriation occurring in the handling of these problematic loans.

According to the Financial Supervisory Service, as of the end of June, the proportion of real estate PF projects with default concerns among domestic banks was 0.1%, equating to approximately 200 billion KRW.

 

 

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