BNK Financial Group Executives Purchase 210,000 Shares as Part of Responsible Management...

Bindaein Chairman, Major Shareholders, and Affiliate Executives Acquire Shares

'Strengthening Responsible Management,' 'Commitment to Enhancing Shareholder Value'

BNK Financial Group, including Chairman Bindaein and 68 executives from the holding company and affiliates, demonstrated their commitment to improving performance and enhancing shareholder value by purchasing approximately 210,000 shares of their own stock on the open market starting February 8.

BNK Financial Group Headquarters.

As of the 15th, BNK Financial Group's stock price closed at 7,720 KRW, up 10.13% since the beginning of the year, alongside a general rise in the banking sector. During the same period, the KRX Banking Index increased by 14.11%, and currently, BNK Financial Group's price-to-book ratio (PBR) stands at the low 0.2 range.

A BNK Financial Group official stated, “This share repurchase reflects our judgment that BNK Financial Group’s stock is undervalued relative to its corporate value, as well as the management’s determination to strengthen responsible management.”

Previously, after Chairman Bindaein took office in April last year, BNK Financial Group became the first regional financial holding company to conduct an interim dividend, completely canceled treasury shares worth 23 billion KRW held last year, and despite a decrease in net income due to large-scale provisions and increased win-win finance costs in 2023, announced on the 5th a treasury stock repurchase and cancellation worth 13 billion KRW, actively pursuing shareholder return policies.

BNK Financial Group’s Chief Financial Officer Kwon Jaejoong said, “The management’s purchase of treasury shares signifies their intention to share interests with shareholders and fulfill management responsibilities. We will do our best to restore the stock price to a level that reflects corporate value through continuous expansion of dividends per share, active promotion of domestic and international investor relations (IR), and lively communication with the market.”

On January 5, BNK Financial Group held a vision declaration ceremony under the title ‘NEW BEGINNING 2030,’ newly establishing the group’s mission as ‘Making finance convenient, enriching the future,’ and presenting a vision to become Korea’s leading financial group by achieving total assets of 300 trillion KRW and a return on equity (ROE) of 12% by 2030.

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