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KEB Hana Bank is the product of a significant consolidation in the South Korean financial sector, formally established in September 2015 through the merger of Hana Bank and the Korea Exchange Bank (KEB). KEB, established in 1967, was historically a government-owned institution specializing in foreign exchange transactions, while Hana Bank traced its origins to the 1971-founded Korea Investment Finance Corporation, which transitioned into a commercial bank in 1991. After Hana Financial Group acquired Korea Exchange Bank in 2012, the two entities were formally integrated, creating one of South Korea's largest commercial banks, which initially operated under the KEB Hana Bank brand until the name was officially reverted to Hana Bank in February 2019.

The bank operates today as a subsidiary of the Hana Financial Group, a major publicly traded financial holding company headquartered in Seoul. Its general significance stems from its status as a leading South Korean commercial bank and the nation's largest and longest-running exchange bank, commanding approximately 40% of South Korea's foreign exchange market. The bank maintains a significant international footprint, with its foreign operations spanning a large global network. In the Indian financial system, the bank operates as a Scheduled Commercial Bank governed by the Banking Regulation Act, 1949, with a limited presence, having commenced operations in 2015 and currently operating just two branches.