Kim Ji-wan, Chairman of BNK Financial, Purchases Additional Shares of Own Company

Kim Ji-wan, Chairman of BNK Financial Group

[Asia Economy Reporter Kim Min-young] Kim Ji-wan, chairman of BNK Financial Group, has started purchasing company shares.

BNK Financial announced on the 11th that Chairman Kim recently bought 21,800 shares on the market. Since his first purchase in May 2018, he currently holds 56,800 shares.

BNK Financial recently signed a trust contract worth 7 billion KRW with Korea Investment & Securities for acquiring treasury stocks to stabilize the stock price and enhance shareholder value, and is purchasing treasury shares.

This recent purchase of company shares by Chairman Kim is interpreted as reflecting his strong determination as the group's CEO to boost the stock price, along with the judgment that BNK Financial's stock is undervalued compared to its corporate value.

BNK Financial's stock price has been fluctuating in the mid-5,000 KRW range amid overall weakness in the banking sector due to concerns over economic recession caused by the COVID-19 crisis and the sharp decline in global stock markets.

The price-to-book ratio (PBR), which is the stock price divided by the net asset value per share, is around 0.2 times, indicating that the stock price is significantly undervalued.

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