Busan Bank Issues First Foreign Currency CD Among Regional Banks... $30 Million Scale
BNK Busan Bank announced on the 21st that it has issued foreign currency negotiable certificates of deposit (CD) worth 30 million dollars to overseas investors. This is the first time a regional bank has issued foreign currency CDs.
Despite ongoing external uncertainties such as geopolitical risks in the Middle East, Busan Bank successfully issued foreign currency CDs based on its high creditworthiness and excellent assets. This foreign currency CD issuance was made through the 'Foreign Currency CD Program' completed in April, which not only expanded the foreign currency funding base but also reduced issuance costs by exempting deposit insurance fees and foreign currency soundness charges.
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Kim Cheong-ho, Head of the Treasury Market Division at Busan Bank, said, “By successfully issuing foreign currency CDs this time, we have secured an additional means to manage foreign currency liquidity in a timely manner,” adding, “We plan to explore various funding methods for stable and efficient liquidity management going forward.”
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