Industrial Bank of Korea (IBK)

Summary

Industrial Bank of Korea operates as a small and medium-sized enterprise (SME) financing bank in China, Indonesia, Russia, Japan, Vietnam, Myanmar, Hong Kong, India, the Philippines, Cambodia, the United States, and the United Kingdom. It operates through five segments: Retail Banking, Corporate Banking, Money Market, IB, and Others. The company offers current accounts, savings, deposits, retail and mortgage loans, overdrafts, other credit facilities, and services relating to import/exports; and advisory services, including consulting on the introduction and implementation of computer systems. It is also involved in the treasury management of local/foreign currency and investments; installment financing and venture capital business; investment trust asset management and consultation, entrusted investment, and future funds management; loan collection and credit research; trading of security and futures; information system development and sales; retirement insurance and pension contracts, annuity insurance contracts, and others; protecting depositors in accordance with depositor protection act; management of investment association under the commercial code of the Republic of Korea; and management and capital distribution of new technology investment association and Korean venture investment association. As of December 31, 2021, the company operated 603 branches and 32 depositary offices in Korea, and 9 branches and 1 office internationally. The company was founded in 1961 and is headquartered in Seoul, South Korea.

History

In 1961, Industrial Bank of Korea (IBK) was established as a state-owned bank. The bank was later privatized in 1997, obtaining capital from domestic and overseas businesses. Currently, the bank is jointly owned by the state, individuals, and corporations. Over the last several decades, the bank has grown to become the nation’s largest and most advanced financial institution, utilizing the latest technologies to enhance services for customers.

Mission

To be known as the best banking solution providers in the globe

References

https://en.wikipedia.org/wiki/Industrial_Bank_of_Korea

https://in.investing.com/equities/industrial-bank-of-korea-company-profile

https://finance.yahoo.com/quote/024110.KS/profile?p=024110.KS

https://www.comparably.com/companies/industrial-bank-of-korea

https://www.crunchbase.com/organization/industrial-bank-of-korea

https://companiesmarketcap.com/

https://www.ibk.co.kr

Industrial Bank of Korea (IBK)

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Industrial Bank of Korea (IBK)

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