[Weekly Savings Banks] Savings Banks Consecutively Achieve Stable Credit Ratings and More

[Asia Economy Reporter Kim Min-young] Savings banks are consecutively receiving excellent credit ratings from credit rating agencies.

DB Savings Bank recently announced that it has been confirmed with an 'A- (Stable)' corporate credit rating by NICE Credit Rating.

NICE Credit Rating reflected key evaluation factors such as DB Savings Bank's stable asset portfolio centered on secured loans and guaranteed loans, excellent asset soundness and capital adequacy, a favorable level of profitability, and DB Financial Group's sufficient support capacity and business importance within the group.

A DB Savings Bank official stated, "Receiving the corporate credit rating of A- for two consecutive years has served as an opportunity to externally inform customers of the company's sound management and stability."

Mo-a Savings Bank, which gathers domestic capital, was also rated BBB+ (Stable) again this year by Korea Ratings, following last year. Korea Ratings cited Mo-a Savings Bank's good market position, stable portfolio mainly consisting of secured loans, excellent profitability, and sound financial health as reasons for assigning this credit rating.

Kim Sang-go, CEO and Chairman of Mo-a Savings Bank, said, "Despite the difficult economic environment due to the novel coronavirus disease (COVID-19), all employees take great pride in receiving the industry's highest level of credit rating again this year, recognizing the portfolio's stability and risk management capabilities."

OK Savings Bank Selects 3rd Customer Panel

OK Savings Bank has selected the 3rd customer panel to operate in a non-face-to-face (untact) manner.

On the 14th, OK Savings Bank held the '2020 3rd Customer Panel Launch Ceremony' at its headquarters located on Namdaemun-ro, Seoul.

The launch ceremony was also conducted online, and all future meetings and presentations will be held non-face-to-face to prevent COVID-19.

Jung Gil-ho, CEO of OK Savings Bank, said at the launch ceremony, "We developed a mobile platform in line with changes in financial trends and the advent of the untact era, but many competitors are also rushing to launch theirs, intensifying competition to dominate the mobile platform. For OK Savings Bank to be chosen by customers, we must ultimately provide services from their perspective and enhance competitiveness in financial consumer protection so that customers can use services with confidence."

SBI Savings Bank Wins Marketing Award for Savings Song Campaign

SBI Savings Bank announced that its savings promotion campaign, the Savings Song, won finalist awards in two categories, 'Branded Content' and 'Finance,' at the '2020 Effie Awards Korea.'

The Effie Awards, established in 1968 in New York, USA, is a globally prestigious marketing award ceremony with over 50 years of history, held in more than 40 countries worldwide.

The Savings Song is based on the recent cultural trend of Newtro (New + Retro) and reworked popular songs from the past into savings songs emphasizing and encouraging the importance of saving, presented with fun lyrics and videos.

An SBI Savings Bank official said, "The Savings Song is a project to raise awareness and build consensus on the importance of saving among the public. We made various efforts to create content that is friendly and enjoyable for all age groups to approach and empathize with." He added, "We will continue to strive to communicate and resonate with the public through the development of diverse content and campaigns."