Hana Bank posted the largest increase in retirement pension assets among South Korean banks in the first nine months of this year.
Retirement pension assets stood at 52.1554 trillion won ($36.2 billion) at the end of September, up 3.7741 trillion won from the end of last year, the bank said on the 19th. Individual retirement pensions (IRP) rose 3.0996 trillion won and defined contribution (DC) plans gained 1.2931 trillion won, driving the increase.
The bank had already led the banking sector in retirement pension asset growth for three consecutive years from 2023 through last year, and kept the top spot on a nine-month cumulative basis this year.
Hana Bank is expanding its Pension Dream Lounge, a dedicated advisory channel, to strengthen its competitiveness in retirement pension asset management. After opening a lounge in Songdo New Town in June, it opened another at its Yatap Station Financial Center this month.
Last month, the bank launched a subscription service for model portfolios made up solely of exchange-traded funds (ETFs), began offering government bonds designed for individual investors and introduced an online system for trading over-the-counter bonds. It also rolled out the banking sector's first guaranteed variable-return insurance product tied to pension withdrawals, completing a management framework covering the entire life cycle.
Separately, Hana Bank is running a promotion through Nov. 30 offering a 15,000-won mobile gift certificate for Daiso to customers opening their first IRP account. Customers qualify by making an initial deposit of at least 100,000 won and setting up an automatic transfer of at least 50,000 won, or by making an initial deposit of at least 3 million won.
"Based on differentiated customer management and product competitiveness, we will do our best to ensure that customers' pension assets are managed stably," an official at Hana Bank said.