Shinhan-KB Kookmin Bank, Pilot Operation of Joint Branches at Yeongju and Yangju Goeup Locations

"To Minimize Financial Consumer Inconvenience Due to Commercial Bank Branch Reduction"

[Asia Economy Reporter Yu Je-hoon] Shinhan Bank announced on the 5th that it will pilot joint branches with KB Kookmin Bank in Yeongju, Gyeongbuk, and Goyup, Yangju, Gyeonggi. This is to minimize inconvenience to financial consumers caused by the recent reduction of commercial bank branches.

The joint branches of the two banks were specifically reviewed and promoted from the beginning of the year for the selection of target areas and operation plans between banks to maintain face-to-face accessibility for customers in areas lacking commercial bank branches and to enhance financial convenience for vulnerable groups.

Yeongju, Gyeongbuk, and Goyup, Yangju, selected as pilot operation areas, are regions where Shinhan Bank and KB Kookmin Bank each operated branches within 100 meters of each other. They were selected to minimize inconvenience to existing customers by considering continuity for customers, employees, and channel operations.

The Shinhan-KB Kookmin joint branches operate as sub-branches: the Shinhan Yeongju branch relocates to the KB Yeongju branch, and the KB Yangju Goyup branch relocates to the Shinhan Goyup branch. Customers share waiting areas in one branch while each bank operates separate counters to handle their respective services.

In particular, these joint branches reflect the preference of financially marginalized groups such as the elderly for face-to-face channel consultations, enabling all banking services including ▲deposit and loan ▲foreign exchange ▲electronic finance ▲ancillary agency services as in existing branches.

Additionally, the interior decoration of the joint branches was designed with a customer-centered approach so that customers visiting the bank can receive financial services in a more comfortable atmosphere, and the workspaces of both banks were separated to enhance customer convenience.

A Shinhan Bank official said, "Through the operation of these joint branches, we will minimize inconvenience for financially marginalized groups such as the elderly and fulfill the bank's social role," adding, "We will continue to strive to improve customers' financial accessibility and banking convenience by expanding offline channel accessibility considering the region and branch owners."

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