To Strengthen IB Business
KB Kookmin Bank announced on Sept. 23 that it has signed a memorandum of understanding (MOU) on investment banking (IB) with Lloyd Banking Group of the United Kingdom.
The MOU allows KB Kookmin Bank to jointly invest in real estate syndicated loans to be arranged by Lloyd Banking Group. The two companies will expand the scope of cooperation in the future.
KB Kookmin Bank is seeking to lay the foundation for exploring overseas financial markets through cooperation with global financial institutions, while Lloyd Banking Group plans to strengthen its network with Asian financial institutions and solidify its market position in the U.K.
KB Kookmin Bank has been steadily expanding its global IB business, focusing on low-risk real assets such as a joint financial arrangement for Canada's natural gas pipelines and a Google office mortgage loan in Silicon Valley in the United States.
In addition, the bank opened IB business units in Hong Kong in 2017 and New York and London in 2019. The Singapore IB unit will open in December. It is planning to sharpen its IB competitiveness and secure new growth engines by securing global bases in financially developed countries.