BNK Busan Bank and Qingdao Rural Commercial Bank to Strengthen Strategic Cooperation

BNK Busan Bank signed a strategic business agreement with Qingdao Rural Commercial Bank at its headquarters in Qingdao, China, on the afternoon of the 12th to strengthen the business capabilities of its China branch.

Through this business agreement, BNK Busan Bank and Qingdao Rural Commercial Bank agreed to reset the credit line limits between the two banks and add syndicated loan operations to the existing areas of cooperation, thereby continuously expanding their strategic partnership.

Qingdao Rural Commercial Bank set a mutual credit provision limit of 300 million yuan (approximately 45 million USD) for Busan Bank, while Busan Bank set a limit equivalent to 40 million USD for Qingdao Rural Commercial Bank.

In addition to exchanging information on local syndicated loan-related operations, they plan to build a practical cooperative relationship by sharing mutual networks and strengths in various fields such as employee training.

BNK Busan Bank President Bang Seong-bin (front row, left) and Qingdao Rural Commercial Bank President Wu Fengsheng (front row, right) are signing a business agreement.

Bang Seong-bin, President of Busan Bank, said, “With the signing of this business agreement, the two banks have developed into more than just strategic partners in China,” adding, “In particular, we will systematically establish a syndicated loan cooperation network newly promoted this time, making it a great opportunity to secure new growth engines for Busan Bank’s China branch.”

Busan Bank has been expanding its areas of collaboration since its first business agreement with Qingdao Rural Commercial Bank in 2018, and in June 2020, it expanded its business in China by establishing its second branch, the Nanjing branch.

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