BNK Financial Group Executes Organizational Restructuring and Executive Appointments for 2024

Strengthening Discovery of Future Growth Engines and Establishing Financial Base Strategy System

Enhancing Competitiveness through Personnel Renewal and Expanding Workforce Exchange among Subsidiaries

BNK Financial Group (Chairman Bin Dae-in) announced on the 19th that it has carried out an organizational restructuring to strengthen expertise and execution capabilities by division while maintaining the organizational slimming policy for solid growth amid ongoing financial environment uncertainties. Priority was given to personnel appointments for key subsidiaries such as the holding company and banks, as well as underperforming branch managers, focusing on establishing organizational discipline during the year-end and New Year period.

BNK Financial Group.

The core of this organizational restructuring and executive personnel appointments includes strengthening the discovery of future growth engines, establishing a strategy formulation system based on financial perspectives, enhancing external trust through the fulfillment of financial institutions’ social responsibilities, appointing new talent to invigorate the organization, and expanding the exchange of specialized personnel among subsidiaries.

First, to discover future growth engines based on digital platforms and to leap forward as a fully integrated financial group, a Group Future Digital Innovation Division will be newly established within the holding company. This division will include the Future Innovation Department, responsible for future growth strategy planning, new businesses, and business diversification; the Regional Specialized Business Team, which promotes specialized projects in the Busan, Ulsan, and Gyeongnam (Bu-Ul-Gyeong) regions and mutual development plans among group companies; the Digital Planning Department; and the IT Planning Department. Through synergy among these organizations, the group aims to discover new business areas and accelerate digital transformation.

The holding company, Busan Bank, Gyeongnam Bank, and BNK Capital will separate financial functions within the management strategy (planning) division and place them under a newly established CFO. The plan is to fully focus on improving the group’s capital ratio and revenue structure by securing financial expertise and advancing financial-based management analysis.

The organization responsible for fulfilling the social responsibilities of financial institutions will also be expanded. To innovate internal control functions such as preventing financial accidents, the group will establish an Ethics Management Department across all group companies?the first in the financial sector?to prioritize the practice of sound finance.

Additionally, a “Regional Win-Win Development Committee” directly under the chairman will be formed to oversee sustainable win-win financial plans from the perspective of vulnerable groups in the Bu-Ul-Gyeong region, with the chairman personally supervising this effort. An independent secretariat directly under the board of directors will also be established to secure governance independence.

Major subsidiaries, Busan Bank and Gyeongnam Bank, placed emphasis on laying the foundation for transitioning to customer-centric organizations in this restructuring. To provide integrated marketing from the customer’s perspective and customized services for each customer, a Customer Planning Department and Customer Data Analysis Team will be newly established, concentrating company-wide efforts on strengthening the customer base.

In the executive personnel appointments following this organizational restructuring, BNK Financial Group focused on personnel renewal to strengthen group competitiveness by selecting an external Chief Financial Officer (CFO) with both expertise and objectivity. For the first time since the establishment of the holding company, female executives were appointed to inject new vitality into the organization and enhance diversity.

In particular, the group announced that it will actively promote balanced growth and synergy creation among group companies by expanding personnel exchanges such as concurrent positions between the holding company and subsidiaries to mutually share core competencies and know-how.

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