DGB Financial Injects 100 Billion KRW into iM Bank

DGB Financial Group announced on the 26th that it will conduct a paid-in capital increase of 100 billion KRW for iM Bank (formerly DGB Daegu Bank), which has transitioned into a commercial bank.

The paid-in capital increase of iM Bank will be carried out through a rights offering, issuing 2 million new shares at a price of 50,000 KRW per common share. DGB Financial Group will participate in the capital increase by issuing 100 billion KRW worth of hybrid capital securities. Previously, iM Bank received approval from the Financial Services Commission to convert into a commercial bank and announced plans to expand its capital base by 700 billion KRW through paid-in capital increases over the next five years.