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RETAIL BANKING | Cesar Tordesillas, Korea
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Hana Financial, local brokerage show intent to buy savings banks

Hana Financial Group and Kiwoom Securities Co. are eyeing to acquire a package of ailing savings banks whose operation have been suspended since September.

 

South Korea's No. 4 banking group and a mid-sized local brokerage submitted letters of intent to purchase both Jeil 2 Savings Bank and Ace Mutual Savings Bank, according to industry sources.

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