KB Kookmin Bank, First in Banking Sector to Enter Investment Advisory Business

KB Kookmin Bank is entering the financial investment advisory business for the first time in the banking sector. Investment advisory services involve consulting on asset management and receiving fees.

According to KB Kookmin Bank on the 20th, it received approval for investment advisory business from the Financial Services Commission at the end of January. Currently, KB Kookmin Bank was only able to provide advice in the real estate sector, but with this approval, the scope of Private Banker (PB) services is expected to expand in the future.

Last year, banks earned huge interest profits, leading to criticism of 'interest business,' and regulatory authorities such as the Financial Services Commission are promoting the relaxation of ancillary business regulations. As KB Kookmin Bank enters investment advisory services, competition with securities firms and asset management companies is expected to intensify. A KB Kookmin Bank official said, "We will enhance asset management capabilities and increase customer value by utilizing KB Financial Group's model portfolio."