[Asia Economy Reporter Kim Min-young] Jeonbuk Bank announced on the 13th that it was selected as the top grade in the regional reinvestment evaluation for financial companies in 2020 in the regional bank category.
The 'Regional Reinvestment Evaluation' was introduced in October 2018 by the Financial Services Commission and the Balanced Development Committee to encourage financial companies to support regional economic growth.
As of the end of last year, the evaluation consisted of four quantitative assessment areas (local fund supply, support for small and medium enterprises, support for loans to low-income people, financial infrastructure) and a qualitative assessment area (regional financial support strategy). In this evaluation, Jeonbuk Bank received the highest grade in the Jeonbuk and Daejeon regions, achieving the top overall grade among regional banks.
The Financial Supervisory Service stated that this evaluation will be reflected in the bank management performance evaluation and will be considered in the selection of local government treasury banks in the future.
Lim Yong-taek, President of Jeonbuk Bank, said, "The 50-year history of Jeonbuk Bank as a regional bank seems to have borne good fruit through this evaluation," and added, "We will continue to do our best for mutual growth through regional reinvestment as a representative regional financial institution."
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