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KB Kookmin Bank Sells ‘KB Kookmin Almighty ISA’
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KB Kookmin Bank Sells ‘KB Kookmin Almighty ISA’
  • By Jung Suk-yee
  • March 29, 2016, 01:15
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KB Kookmin Bank started selling the service of “KB Kookmin Almighty ISA” on March 14.
KB Kookmin Bank started selling the service of “KB Kookmin Almighty ISA” on March 14.

 

KB Kookmin Bank Logo
KB Kookmin Bank Logo

 

KB Kookmin Bank offers various inducements, such as tailored product lineup and supplementary services, to customers when purchasing “KB Kookmin Almighty ISA.”

The bank is focusing on preventing incomplete sales and not rushing out sales. An official from KB Kookmin Bank said, “The bank aims to design fruitful products and provide efficient asset management services through the individual savings accounts (ISA).”

A trust-based ISA, which is a specified trust product, requires the asset management capability of a financial company. As of the end of January, KB Kookmin Bank ranked top in the banking industry in terms of market share in the specified trust sector with 27.6 percent. The KB Kookmin Almighty ISA put in 90 products, such as savings, exchange traded funds (ETF), funds and equity-linked securities (ELS).

The bank is considered one offers a wide range of customized recommended products that meet customer demands and investment patterns. Based on experience in the ETF and ELS and expertise in the asset management, it also suggests an efficient diversified investment strategy when a customer includes fund and savings products in an ISA. 

KB Kookmin Bank has the largest product lineups among ISA sellers. With 10 years of the know-how on ETF trust managements, the bank has 12 types of ETF product lineups, including two local stock-type ETFs on dividend theme, three bond-stock mixed types and seven overseas funds.

Moreover, the bank released ELS products with 45 percent of the knock-in barrier, which is the lowest level among banks, and sold 14 billion won (US$12.01 million) of the products in three days after the launch. The lower the know-in barrier levels is the safer the investment is. It also has 45 different types of fund products for customers’ investment patterns.

In the recent “investigation on fund sales” conducted by the Korea Financial Investors Protection Foundation, KB Kookmin Bank has been awarded a first-class rating for two years in a row for the first time in the commercial banking industry. In addition, the bank has won the grand prize in the investor protection category in “Korea Fund Awards” hosted by fund rating firm KG Zerioin for a second successive year.