BNK Capital Kazakhstan Subsidiary Receives Final Approval for Banking Operations

First Korean Financial Institution to Receive Overseas Banking Conversion Approval

BNK Financial Group announced on the 25th that BNK Capital's Kazakhstan branch has received final approval for banking operations from the Kazakhstan financial authorities.

This final approval was obtained after a year of preparation following the preliminary approval granted in June of last year. Since entering the Kazakhstan microfinance market in 2018, BNK Financial has consistently pursued the conversion of its local subsidiary into a bank, leveraging solid business performance and stable operational experience. BNK Financial explained that it has conducted detailed market research on the Kazakhstan market and developed business strategies specialized in lending to small and medium-sized enterprises.

This is the first case in which a Korean financial institution operating in an overseas microfinance market has received approval from the local financial authorities to convert to a bank. It is also the first time in about 16 years that a foreign financial institution has received banking approval in Kazakhstan.

Bin Daein, Chairman of BNK Financial Group, stated, "We will bring a fresh breeze to Kazakhstan's financial sector through BNK's unique, customer-tailored financial services," adding, "We will fulfill not only our fundamental financial role but also our social responsibilities with even greater dedication."

On the 25th, BNK Capital's Kazakhstan branch received final approval for banking operations from the Kazakhstan financial authorities. From the fourth person on the left, Kim Sungju, CEO of BNK Capital, and Majina Abilkassimova, Chairman of the Kazakhstan Financial Supervisory Authority. BNK Financial Group.