DGB Financial Hit Hard by COVID-19... Chairman Kim Tae-o Buys Company Shares

Kim Tae-oh, Chairman of DGB Financial Group and President of Daegu Bank

[Asia Economy Reporter Kim Min-young] Kim Tae-oh, Chairman of DGB Financial Group and CEO of Daegu Bank, has made his fourth purchase of company shares since taking office.

DGB Financial, based in the Daegu and Gyeongbuk regions, and its core affiliate Daegu Bank, which have been directly hit by the damage caused by the novel coronavirus infection (COVID-19), are being evaluated as taking responsible management and enhancing shareholder value through the purchase of company shares.

DGB Financial announced on the 9th that Chairman Kim purchased 10,000 shares of the company on the market on the 4th. Since taking office, Chairman Kim has purchased company shares four times, and including this purchase, he now holds 25,000 shares.

Not only Chairman Kim but also the management of DGB Financial and Daegu Bank participated in the purchase of company shares. This year alone, the management has purchased about 80,000 shares of company stock and treasury stock.

DGB Financial stated, "The voluntary purchase of company shares by the management, including Chairman Kim, shows their intention to foster company loyalty, take responsible management as executives, enhance shareholder value, and contribute to revitalizing the regional economy, and it is expected to continue in the future."

A DGB Financial official said, "Despite concerns such as the overall decline in stock prices in the financial industry due to the recent long-term low growth and low interest rate trend, and the domestic economic recession caused by COVID-19, this expresses the will to improve performance through new market penetration and providing differentiated financial services prioritizing customer value based on a solid regional foundation, as well as confidence in future corporate value."

This content was produced with the assistance of AI translation services.