2023-07-05 06:00:19
[딜사이트 강지수 기자] Tae-oh Kim, chairman of DGB Financial Group, formalized Daegu Bank’s transition to a commercial bank. As the financial authorities have also stated that they will allow local banks to convert to commercial banks, it is expected that Daegu Bank’s move towards commercial bank conversion will accelerate in the future.
DGB Finance Chairman Kim Tae-oh met with reporters following a meeting with bank holding presidents held at the Bank Association in Jung-gu, Seoul on the 5th and said, “Daegu Bank is planning to review and promote the conversion to a commercial bank within this year.”
Chairman Kim mentioned that he would keep the Daegu Bank’s headquarters in Daegu and continue its role as a representative bank in the region. Chairman Kim said, “We will faithfully fulfill our role as a regional bank as a commercial bank headquartered in Daegu and a regional representative bank.” I will contribute more to the activation,” he emphasized.
Regarding the background of Daegu Bank’s transition to a commercial bank, it was mentioned that the funding rate might be lowered. Chairman Kim said, “When it comes to local banks when operating in Seoul and the metropolitan area, customers have a differentiated perception from commercial banks.” mentioned
Chairman Kim said that as it is a digital era, he expects the effect of enhancing competitiveness through cooperation with platform companies such as fintech. He said, “In the past, there were no stores in the metropolitan area, but in the digital age, if you can work while reducing costs, wouldn’t you be able to provide better financial services?” We will be able to provide core services,” he said.
The financial authorities announced their position that they would allow local banks to convert to commercial banks to promote competition in the banking sector. Financial Services Commission Chairman Kim Joo-hyun announced the above at a meeting with the heads of bank holding companies held at the Myeong-dong Bank Federation on the same day and said, “With the new entry into the commercial bank market following 30 years and the emergence of commercial banks headquartered in the provinces, it is meaningful to the existing competitive structure. We hope to bring regarding change,” he said.
In accordance with the policy of the financial authorities, Daegu Bank’s transition to a commercial bank is expected to accelerate. DGB Financial announced that it will form a group-level TFT (Task Force Team) in the future, discuss with consulting companies, and apply for approval for commercial bank conversion in the near future.
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