KDB Industrial Bank Obtains Approval to Establish Hong Kong Branch... Opening Early Next Year

Fostering Asia's CIB Hub by Enhancing Synergy Between Hong Kong Corporation and Branch

[Asia Economy Reporter Park Sun-mi] KDB Industrial Bank announced on the 22nd that it has obtained approval from the Hong Kong Monetary Authority to establish a new branch in Hong Kong.

Since establishing a local corporation in Hong Kong in 1986, Industrial Bank will be able to open a new branch in Hong Kong for the first time in 35 years. By building both a corporation and a branch in Hong Kong, a major financial hub in Asia, the bank plans to promote specialized strategies for each location and enhance collaborative synergies.

The existing Hong Kong corporation will leverage its experience and know-how in investment banking (IB) in the Hong Kong financial market to further strengthen syndicated loan arrangement, fund investment, and management operations, nurturing it as a specialized IB branch. The newly established Hong Kong branch will focus on fundraising and corporate banking (CB), actively supporting the smooth business activities of Korean companies entering Hong Kong and the Greater China region.

An Industrial Bank official stated, “We will maximize the advantages of both the corporation and the branch to develop a CIB hub in Asia,” adding, “The Hong Kong branch will commence operations in early 2022 after completing subsequent procedures.”

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