Korea

Yet reports said private placement was possible rather than a block deal for the lender to unload its stake in its parent by September.

Korea’s deposit insurance agency will put most of the seven suspended savings banks up for sale. This is part of Korea's efforts to revamp the ailing financial segment.

The lender plans to buy one to two additional savings banks to tap microcredit finance business.

The Korean lender offered 2.5mn shares in KB Financial to Sumitomo at $50.53 per share.

The company aims to capture debit card leadership through Kookmin Bank’s Rock Star Zone.

The bank’s selection committee chose its vice-president to help acceleration of bank’s stalled privatization.

The lender assures no job cuts despite closures as it streamlines operations as it faces escalating competition.

Banknetvn and Korea Financial Telecommunications & Clearings Institute will have an inter-border ATM service connection.

Supreme Court’s recent ruling and labor union protests threaten to veto the merger.

Former Financial Services Commission vice chairman and Securities & Futures Commission chairman will still have to win approval from the board.

The group said the selected president to be approved by the board in mid-March.

The lender seeks to merge them with Samhwa to nurture a consolidated savings bank with an asset size of up to US$2.7bn.

Yun Yong-ro, ex-president of the Industrial Bank of Korea, has been recommended to head KEB, a Hana Financial spokesman said.

South Korea's state deposit insurer took out commercial bank emergency loans, according to a Yonhap News Agency report.

The bank will set eyes on product diversity and convergence with telecom sector.

Woori Finance will expedite its rescue of a Samhwa Mutual Savings Bank. It intends to and resume the operations of the said mid-sized savings bank as early as this month.