ENTERING the second quarter of 2024, KB Bank (BBKP) with support from the parent company KB Kookmin Bank Co., Ltd. signed a long-term loan facility of US$300 million from the Korea Development Bank (KDB).
This long-term loan facility further strengthens KB Bank’s funding structure to support sustainable growth amidst a dynamic market situation.
Deputy President Director of KB Bank, Robby Mondong, explained that the long-term loan facility from Korea Development Bank will further strengthen KB Bank’s funding.
So it supports the company’s efforts to expand credit, especially for the MSME and retail segments which are the focus in 2024.
“This collaboration between KB Bank and Korea Development Bank is also supported by the parent company KB Bank through collateral in the form of a Standby Letter of Credit (SBLC) issued by KB Kookmin Bank Co., Ltd.,” said Robby, Tuesday (16/4).
This year KB Bank continues to encourage business growth by making the wholesale segment the anchor and expanding the ecosystem in the MSME and retail segments.
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In 2023, the wholesale segment grew by almost 14% with new credit growth in this segment of around 18%, which was also driven by growth in the Korean Link Business of more than double.
Established in 1954, the Korea Development Bank (KDB) is a pillar of economic development in South Korea, operating under the direct supervision of the South Korean Government.
With a mandate to maintain institutional solvency, KDB has achieved international recognition, with ratings such as Aa2 (Moody’s), AA (S&P), and AA- (Fitch Ratings). In South Korea, KDB holds the highest credit ratings from Korea Ratings Corp., Korea Investors Services, and NICE.
The collaboration between KB Bank and KDB reflects the convergence of strategic vision and shared commitment to strengthening financial stability and growth.
“This agreement not only strengthens KB Bank’s financial position, but also confirms the sustainable partnership between the two institutions in driving economic progress,” said Robby. (Try/Z-7)
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