BNK Financial Group Establishes and Operates 'Emergency Management Committee' within Kyongnam Bank

BNK Financial Group established an Emergency Management Committee within Kyongnam Bank on the 16th to strengthen internal control functions for preventing financial accidents and to fundamentally innovate the structural issues of the bank.

The Emergency Management Committee is a support measure promoted under the leadership of the holding company, which serves as the group's control tower.

Kyongnam Bank will focus on cooperating with supervisory authorities' investigations and responding to customers to manage the financial accident, while the committee plans to concentrate on supporting the early normalization of Kyongnam Bank by preparing improvement measures.

The committee is responsible for devising fundamental reform measures to prevent recurrence of financial accidents and proposing rigorous improvement directions regarding management, personnel, organization, internal control, and cost efficiency.

Additionally, to accurately diagnose Kyongnam Bank’s organization and business processes from an expert and objective perspective, the committee chairperson was appointed from outside the organization, and to ensure independent operation, staff members from the holding company will be dispatched.

Busan Bank Headquarters.

A BNK Financial Group official stated, “Following the policy to promptly restore customer trust damaged by the financial accident, the Emergency Management Committee is expected to play a crucial role in elevating Kyongnam Bank’s internal control capabilities to the next level.”

He added, “To enhance internal and external trust and establish a sound management system, we also plan to simultaneously work on quickly implementing tasks derived by the committee that need to be expanded group-wide across all affiliates.”

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