Deutsche Bank has today announced it has been appointed by Euroclear Bank SA/NV as Cash Settlement and Foreign Exchange Bank (under Euroclear direct link) with the Korea Securities Depository (KSD). The mandate is to support South Korean government bond activity for Korea Treasury Bonds (KTBs) and M
With the recent expanding trend of Banking as a Service (BaaS), which allows consumers to experience banking services through fintech platforms, Shinhan Bank has partnered with the fintech company E9pay, specializing in small-scale overseas remittances.Shinhan Bank announced on April 17 that it has
Shinhan Bank announced on March 14 that Shinhan Bank Indonesia has signed a strategic business agreement with Indonesian electronic payment company Indodana (PT Artha Dana Teknologi Indodana) to expand its digital platform-based lending market.Indodana is a digital payment solutions provider that ha
To strengthen its global operations, Shinhan Bank is accelerating the development and marketing of products targeting local customers, including the launch of digital loan products overseas.According to Shinhan Bank on March 12, Shinhan Bank Indonesia is partnering with local fintech platform compan
Incheon Metropolitan City and Shinhan Bank announced that they have signed a memorandum of understanding (MOU) at the Incheon City Hall meeting room on March 11 to secure the hosting of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea in 2025.At the signing ceremony, Mayor of Inche
KB Financial Group has achieved the top position among domestic financial institution brands in the “Banking 500,” announced by the prestigious brand evaluation institution “Brand Finance” based in the U.K.Brand Finance evaluates brand value annually by comprehensively considering financial performa
The Export-Import Bank of Korea (Korea Eximbank) announced on March 7 that it has inked a memorandum of understanding (MOU) with the United States Department of Energy (DOE) for cooperation in the fields of supply chain and eco-friendly energy.Yoon Hee-sung, the president of the Korea Eximbank, sign
KEB Hana Bank announced that its German subsidiary, “KEB Hana Bank Germany,” has obtained an international credit rating of “Aa3” from Moody’s, one of the world’s top three credit rating agencies.KEB Hana Bank (D) AG, a wholly-owned subsidiary of KEB Hana Bank, has been operating in Frankfurt, Germa
On Feb. 23, KB Kookmin Bank held the grand opening ceremony of KB Prasac Bank in Phnom Penh, the capital city of Cambodia.Approximately 700 individuals attended the event, including the Governor of the National Bank of Cambodia Chea Serey and the Ambassador of Cambodia to Korea Chring Botum Rangsay
The Export-Import Bank of Korea (Korea Eximbank) announced on Feb. 22 that it has signed a memorandum of understanding (MOU) with Germany’s KfW IPEX-Bank (KfW IPEX) for cooperation in the field of advanced industries and supply chains.KfW IPEX is a subsidiary fully owned by the German federal govern
The Bank of China has lost its lawsuit against South Korea’s tax authorities to cancel a 35.8 billion won (US$26.8 million) corporate tax penalty in a Supreme Court ruling in South Korea. The Supreme Court has confirmed the original ruling that the plaintiffs lost the case against the Jongno Tax Off
Global private equity fund (PEF) Carlyle Group will sell a 1.2 percent stake in KB Financial Group in a block deal worth about 32 billion won.According to sources in the investment banking (IB) industry on Feb. 14, Carlyle Group made a demand forecast after the close of the market to push forward th
On Feb. 7, KB Financial Group was selected as the only domestic financial institution to achieve the highest rating, “Top 1%,” in the “2023 Corporate Sustainability Assessment” announced by U.S.-based Standard & Poor’s Global (S&P Global).The highest rating of “Top 1%” in the “2023 Corporate Sustain
Shinhan Financial Group announced on Feb. 7 that it has received the “Leadership A” rating in the CDP Climate Change category announced by the Korean Committee of the Carbon Disclosure Project (CDP) on Feb. 6, making it the only domestic financial institution to achieve this distinction.CDP is a glo
Financial Services Commission (FSC) Vice Chairman Kim So-young recently stated, “If more foreign financial companies expand their presence in South Korea, pioneer new markets and introduce new products, promoting innovation and competition, it will greatly contribute to the development of the South
Hana Bank announced on Jan. 17 (local time) that it has been honored with the “Best Trade Finance Provider in Korea 2024,” an award presented by the global financial and economic publication Global Finance.With the latest award, Hana Bank has achieved a remarkable feat by winning the “Best Trade Fin
On Jan. 17, KB Financial Group was announced as the only domestic financial company to be selected for the “Global 100 Most Sustainable Corporations in the World” by the global ESG advisory group Corporate Knights, marking its consecutive inclusion for two years.The “Global 100 Most Sustainable Corp
The overseas non-performing loan portfolios of the four major banks in South Korea surged to nearly 300 billion won in just one year. The rapid increase raised concerns as delinquency amounts spiked due to the impact of high-interest rate shocks, prompting warnings about the management of overseas f
Shinhan Card announced on Dec. 28 that Shinhan Finance, its subsidiary in Kazakhstan, will receive a joint investment of approximately 31 billion won over the next five years following the completion of a partnership agreement with Aster, a top-tier automotive dealer in Kazakhstan.The agreement enab
The recent global downturn in the real estate market has exposed significant risks of substantial losses for overseas real estate funds sold by domestic banks.According to financial sources on Dec. 18, the aggregated sales balance of overseas real estate funds by the top five banks in South Korea --