Financial Supervisory Service Initiates Regular Inspection of BNK Financial Group
The Financial Supervisory Service (FSS) has commenced a regular inspection of BNK Financial Group.
According to the financial sector on the 10th, the FSS designated BNK Financial Group, Busan Bank, and Kyongnam Bank as the first targets for regular bank inspections this year and began the inspection on the same day.
The FSS had planned to conduct a regular inspection of BNK Financial Group last year but postponed the schedule due to incidents such as losses from the Hong Kong H-Index equity-linked securities (ELS) and improper loans related to relatives of former Woori Financial Group[316140] Chairman Sohn Tae-seung.
The financial authorities plan to focus on thoroughly examining BNK Financial Group's internal control systems during this inspection.
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Previously, at Kyongnam Bank, an employee managing funds related to real estate project financing (PF) loans was caught embezzling approximately 300 billion won of company money.
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