BRANCH BANKING | Cesar Tordesillas, Korea

Spain's Banco Bilbao allowed to open Seoul branch

South Korea's financial watchdog said Wednesday that it gave the green light to Spanish lender Banco Bilbao Vizcaya Argentaria S.A. to establish a branch in Seoul.


The branch, scheduled to start operation in September, will have an initial operating fund of 3 billion won or US$284,000 and focus on corporate lending and trade financing, the Financial Services Commission said.

The full story is available at Yonhap News.

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