A financial incident involving excessive loans amounting to about 20.5 billion won occurred at NH Nonghyup Bank.
NH Nonghyup Bank disclosed on the 3rd that a financial incident amounting to 20.49311 billion won occurred due to excessive loans by an outsider. The incident arose when loan consultant A inflated the valuation of the dwellings to execute approximately 20.5 billion won in mortgage loans. So far, there have been no indications of involvement from NH Nonghyup Bank employees.
The financial incident occurred from Feb. 10, 2022, to Apr. 25, 2023. NH Nonghyup Bank detected the matter through its own audit. An additional audit is currently underway, and as a result, the loss amount may increase further. NH Nonghyup Bank plans to file a complaint against A with the investigative authorities.