KDB Bank to Open Additional Hong Kong Branch... "Hub for Corporate Finance and Fundraising"
Existing Branches to Become Investment Banking (IB) Centers
Establishment May Be Pushed as Early as This Year
[Asia Economy Reporter Wondara] KBD Industrial Bank is establishing an additional branch in Hong Kong.
A bank official said on the 18th, "We are preparing to establish the Hong Kong branch as early as this year, and are promoting the branch establishment considering local regulations and business environment."
The bank has set a strategy to build a 'double post' in addition to the existing KDB Hong Kong corporation. The existing Hong Kong branch will serve as an investment banking (IB) center, and the new Hong Kong branch will function as a corporate finance and funding hub.
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The bank has recently been expanding its presence in the Asian region, including Hong Kong. This is in line with the government's New Southern Policy to support Korean companies' expansion into Asia and participation in local infrastructure development projects. Following last year's acquisition of the Indonesian comprehensive financial company (Tifa Finance), the bank opened a Yangon branch in Myanmar earlier this year. It also plans to open a Hanoi branch in Vietnam within this year.
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