Busan Bank Selected as Excellent Bank for 'Personal Business Loan 119'

916 Cases and 50 Billion Won Support in the First Half of 2020

[Asia Economy Reporter Park Sun-mi]BNK Busan Bank announced on the 2nd that it was selected as an excellent bank in the small and medium-sized bank category in the Financial Supervisory Service's evaluation of the operation performance of the ‘Personal Business Loan 119’ program for the first half of 2020.

The ‘Personal Business Loan 119’ excellent banks have been selected once each in the first and second half of the year since 2017 by the Financial Supervisory Service, which classifies banks into large and small-to-medium-sized based on their scale and conducts a comprehensive evaluation of support performance and operational systems. The ‘Personal Business Loan 119’ is a system that alleviates the debt repayment burden by refinancing or extending the maturity of loans for personal business owners who temporarily face difficulties in debt repayment due to liquidity shortages.

Busan Bank was selected as the number one bank in the small and medium-sized bank category for two consecutive times, following the second half of 2019, by supporting 916 cases and 50 billion KRW through the ‘Personal Business Loan 119’ program during the first half of this year.

Son Dae-jin, Head of Credit Sales Division at Busan Bank, said, “Busan, which has the highest proportion of small business owners nationwide, has been hit hardest by COVID-19, making active financial support more urgent than in any other region,” and added, “We will continue to expand customized support activities for local small business owners.”