IBK Industrial Bank Achieves Consecutive 1st Place in Technology Finance Performance Evaluation

[Asia Economy Reporter Jin-ho Kim] IBK Industrial Bank of Korea announced on the 30th that it ranked first in the large bank group category in the first half of this year’s bank sector technology finance performance evaluation (TECH evaluation).

The technology finance performance evaluation (TECH evaluation) is an assessment system led by the Financial Services Commission. It comprehensively evaluates the supply performance and support capabilities of technology finance on a semiannual basis.

IBK recorded technology credit loan balances of ▲73.4 trillion KRW in the first half of 2020 ▲81.8 trillion KRW in the second half of 2020 ▲89.1 trillion KRW in the first half of 2021, maintaining a growth trend each year. IP-backed loans newly supplied 211 billion KRW in the first half of 2021.

In addition, IBK expanded support focused on industries with high technological relevance and achieved qualitative growth in technology finance by supporting 158.8 billion KRW in technology evaluation-based investments, 2.3 times more than the same period last year.

An IBK official stated, “We plan to actively discover and support early-stage startups with excellent technology and innovative companies with outstanding growth potential,” adding, “We will solidify our position as a leading technology finance bank through various support methods for SMEs, such as expanding IP-backed loans and venture capital supply.”