NH Nonghyup Bank and Kwangju Bank compete for 25 trillion won treasury contract

The Jeonnam-Gwangju Integrated Special City is scheduled to select the financial institutions responsible for managing its treasury for a four-year term from 2027 to 2030. The selection process will take place on the 26th at the Muan Government Complex.

NH Nonghyup Bank and Kwangju Bank are competing for the primary treasury position, which handles general accounts. The institution that does not secure the primary position will be designated as the secondary treasury, responsible for special accounts. The total scale of the funds to be managed is expected to reach approximately 25 trillion won annually, bolstered by an expected 5 trillion won in additional annual government support.

The selection committee will evaluate candidates based on several criteria, including creditworthiness, financial stability, interest rates for loans and deposits, convenience for residents, and ability to manage treasury operations. A recent ordinance amendment has introduced the distribution of the financial institution's branch network across municipalities as a key evaluation factor, which may provide an advantage to NH Nonghyup Bank due to its extensive presence in the Jeonnam region.