RETAIL BANKING | Tony Chua, Korea

KB Financial and Woori bid for Jeil Savings Bank

Reports said Hana Financial had also joined the auction on taking over the suspended lender.

KB Financial Group and Woori Finance Holdings are among three Korean financial holding firms bidding for the suspended Jeil Savings Bank, people with knowledge of the matter said on Thursday.

Online news outlet Edaily reported that Hana Financial Group had also submitted a bid, according to a report in Reuters.

Officials at state-run Korea Deposit Insurance Corp (KDIC), which is handling the sale process, declined to comment.
KDIC issued a statement saying that three financial holding firms had filed letters-of-intent for Jeil but gave no further details. 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.