BNK Busan Bank Expands Global Business ... Signs MOU with Nanjing Bank, China

Securing Second Strategic Partner in China Following Qingdao Agricultural Bank

BNK Busan Bank is showing proactive efforts to expand its global business.

President Bang Seong-bin embarked on his first overseas business trip since taking office to secure local strategic partners in China and strengthen the foundation for expanding local business.

During the trip, with the goal of enhancing the sales capabilities of its branches in China, Busan Bank signed a strategic business agreement to expand cooperation with Nanjing Bank on the morning of June 15, following Qingdao Rural Commercial Bank on June 12.

BNK Busan Bank signed a business agreement with Nanjing Bank, China.

Based on this business agreement, the two banks plan to share their networks and strengths to expand exchanges in various fields such as payment settlements, trade finance, and the capital market.

Nanjing Bank, established in 1996, is a top-tier commercial bank in China with total assets of approximately 385 trillion KRW as of 2022.

Busan Bank has continued its proactive efforts to expand its business in China, including being the first regional bank to pursue opening a branch in Nanjing City in 2020, obtaining preliminary approval in the shortest period of about five months after applying for branch authorization.

Despite the COVID-19 situation at the time of its opening in 2020, which prevented even a branch opening ceremony, the Nanjing branch quickly grew into a core overseas branch of Busan Bank by achieving early profitability in its third year of operation.

Additionally, through the establishment of the Nanjing branch, Busan Bank has been recognized for building an efficient sales network that divides China into northern and southern regions. With this business agreement, it has further strengthened the foundation for expanding local business by securing strategic partners in different regions of China.

Bang Seong-bin, President of Busan Bank, stated, “Through this business agreement, we will actively discover new businesses in China and focus on strengthening our sales capabilities. Going forward, we will continue to expand our global business as a new growth engine for the bank.”

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