IBK Industrial Bank Acquires Additional 20 Million Shares of Subsidiary IBK Capital

[Asia Economy Reporter Dongwoo Lee] IBK Industrial Bank announced on the 30th that it will additionally acquire 20 million shares of its subsidiary IBK Capital, which operates in new technology business finance, installment finance, and facility leasing, for 100 billion KRW.

After the acquisition, IBK Industrial Bank's stake in IBK Capital will be 100%. The scheduled date for the stock acquisition is the same day as the announcement.

IBK Industrial Bank stated that the purpose of this stock acquisition is to increase profits by strengthening the competitiveness of its subsidiary, IBK Capital.