Individual Business Loan 119 Performance Increase... Ranked 1st Overall for Excellent System Guidance
KB Kookmin Bank announced on the 11th that it was selected as the overall first place in the large-scale category in the ‘2024 First Half Domestic Banks Personal Business Loan 119 Excellent Bank Evaluation Results’ in recognition of its active efforts to alleviate the financial burden of small business owners facing management difficulties.
‘Personal Business Loan 119’ is a bank autonomous debt adjustment program targeting personal business borrowers who have difficulty repaying debts at maturity or are overdue within three months. KB Kookmin Bank supports reducing the repayment burden of personal business borrowers through methods such as maturity extension, interest reduction, interest deferral, and refinancing loans.
According to the ‘2024 First Half Domestic Banks Personal Business Loan 119 Operation Status’ distributed by the Financial Supervisory Service, KB Kookmin Bank significantly increased its support performance compared to the previous half-year and was awarded first place in the large-scale category considering its excellence in system guidance.
To expand support for ‘Personal Business Loan 119,’ KB Kookmin Bank improved its support method to independently select borrowers at risk of delinquency and provide early assistance. For these customers, the bank provided detailed financial support by notifying them of maturity and guiding them on the ‘Personal Business Loan 119’ system via LMS. Additionally, branch employees were encouraged to provide automatic notifications through the system.
Meanwhile, as of the end of August, the number of small business customers transacting with KB Kookmin Bank was approximately 390,000 companies, with loan balances reaching 90 trillion KRW. Over the past five years, the number of customers increased by 123,000 companies, and loan balances rose by 24.3 trillion KRW. Especially this year alone, the amount newly supported to small business owners reached 28 trillion KRW, continuously providing smooth funding support to small business owners who have been increasingly struggling due to delayed domestic demand recovery.
Furthermore, on August 26, KB Financial Group signed a ‘Joint Cooperation Agreement (MOU) to Overcome the Low Birthrate Crisis’ to support the childcare and parenting care gaps of small business owners, attended by Chairman Yang Jong-hee. As part of the ‘KB Kookmin Together Project,’ a win-win management activity of KB Financial growing together with the people, starting with an agreement with Seoul City, KB Financial Group is partnering with major local governments nationwide to provide a total of 16 billion KRW to address the childcare gaps of small business owners.
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