Bindaein BNK Financial Chairman: "Gyeongnam Bank Embezzlement, Re-examining Internal Controls Across All Affiliates"

Urgent Executive Meeting Held
"Active Cooperation with Authorities' Investigation"

Bin Dae-in, chairman of BNK Financial Group, announced on the 4th that he will "reexamine the entire internal control system of all affiliates from the ground up" in relation to the embezzlement case involving real estate project financing (PF) loans at its subsidiary, Gyeongnam Bank.

At an emergency management meeting held that day, Chairman Bin stated, "BNK Financial Group must fulfill its responsibility as a control tower, including supporting the normalization of the Gyeongnam Bank embezzlement incident." He urged the management of all affiliates to inspect internal control procedures for all operations where embezzlement risks may exist.

He added, "We will actively cooperate with the ongoing investigation by regulatory authorities and humbly accept the results," and "We will do our best to restore customer trust and normalize the situation by promptly preparing fundamental reform measures."

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