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S.Korea's Hana Financial seeks to buy Chinese banks

SEOUL, July 4 (Reuters) - South Korea's No. 4 financial services firm, Hana Financial Group (086790.KS: Quote, Profile, Research), said on Tuesday it is seeking to buy regional banks in China's northeastern provinces to tap retail markets in the fast-growing economy.

Hana, in which Singapore's Temasek Holdings [TEM.UL] and Goldman Sachs (GS.N: Quote, Profile, Research) are top shareholders with a combined 19 percent stake, is keen to grow to survive a wave of consolidation in the financial sector and to diversify revenue sources.

"In order to enter China's retail markets, we will seek to buy local banks in Jilin, Liaoning and Heilongjiang, northeastern China, over the long term," Hana Financial told the Korea Exchange in a filing.

"Advancing in the three Chinese markets will boost our financial networks in China and East Asia and contribute to the group's growth."

Many ethnic Koreans live in the northeastern part of China next to North Korea.

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'I'm absolutely sure Tommy denied visiting swingers' club,' says ...

AN MSP told a jury yesterday she was "absolutely sure" that Tommy Sheridan had denied going to a swingers' club when the Scottish Socialist Party hierarchy discussed allegations about his private life.

Rosemary Byrne's evidence clashed with a number of other witnesses, who insisted the former party leader had confessed to attending the club.

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