SEOUL, Dec. 19 (UPI) -- South Korea's Hana Financial Group said Friday it would inject $100 million into Hana Bank USA to boost the capital base of its U.S. unit.
Hana Financial acquired Broadway National Bank in 2013 to launch Hana Bank USA and has since increased its capital twice, by $36.5 million in 2016 and $65 million in 2022.
With the additional $100 million infusion, Hana Bank USA's maximum lending limit per customer is set to double to $32 million from $16 million.
On top of Hana Bank USA in New Jersey, Hana Financial operates three other offices in New York and Los Angeles, which provide corporate financing services to Korean companies in the United States.
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