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S KOREAN BANKS SEEKING TO BECOME FINANCIAL GROUPS.
SEOUL, April 1 Asia Pulse - Several South Korean banks are seeking to turn themselves into financial services groups in order to meet the diverse needs of their customers, sources said today.
Their move is also designed to catch up with an industry trend of becoming larger and other changes occurring in the financial services sector, they said.
"Domestic banks want to become financial services groups to satisfy the diverse needs of customers and cope with the changed environment of the industry," Lee Jae-yon, a researcher at the Korea Institute of Finance, said.
Among those seeking to become financial groups are Kookmin Bank, the country's largest bank, and Hana Bank, the No. 2 lender.
As part of its efforts to become a financial services group, Kookmin is trying to take over one of the two state investment trusts up for sale - Korea Investment and Securities Co. and Daehan Investment and Securities Co.
Hana is keen to become a financial group. "We are ...
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Source: HighBeam Research, S KOREAN BANKS SEEKING TO BECOME FINANCIAL GROUPS.