K Bank Increases Capital to 900 Billion Won... Boosting New Loan and Business Activities

BC Card and Others Complete Capital Payment

K Bank Logo

[Asia Economy Reporter Kim Hyo-jin] The paid-in capital increase procedure worth 400 billion KRW to raise K-Bank's capital to 900 billion KRW has been completed.

K-Bank announced on the 28th that BC Card, Woori Bank, and NH Investment & Securities have completed the payment for common shares worth 239.2 billion KRW and convertible shares worth 157.4 billion KRW.

Based on the combined shareholding ratio including common and convertible shares, BC Card holds 34%, Woori Bank holds 26.2%, and NH Investment & Securities holds 10% of K-Bank's shares respectively.

As a result, K-Bank has established a three-major shareholder structure including BC Card, and its capital has increased to 901.7 billion KRW.

K-Bank evaluated, "The successful completion of the capital increase shows that major shareholders have deep sympathy and trust in K-Bank's business potential despite the rapidly changing financial market environment such as the COVID-19 pandemic."

K-Bank recently introduced three new household loan products: 'Credit Loan', 'Overdraft Loan', and 'Credit Loan Plus'. It plans to actively launch various types of loan products, including apartment mortgage loans, soon.

K-Bank will also introduce an 'Electronic Repayment Delegation' system that implements the delegation procedure required for refinancing loans (switching loans) via mobile. This system allows customers to complete the delegation process with just an electronic signature.

K-Bank plans to utilize this system for apartment mortgage refinancing loans.

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