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KYONGNAM, KWANGJU BANKS SET TO MERGE WITH HANVIT.
SEOUL, April 1 Asia Pulse - Woori Finance Holding said Friday that Kyongnam Bank and Kwangju Bank, both recipients of a public bailout, are to merge with the Hanvit Bank.
A Woori source said a study on banking sector reorganization showed the need for such a merger.
The interim study also indicated it would be difficult for Kyongnam and Kwangju banks to survive on their own, according to the source.
A.T. Kearney is compiling the cited study. It has conducted due diligence ...
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Source: HighBeam Research, KYONGNAM, KWANGJU BANKS SET TO MERGE WITH HANVIT.