Suhyup Bank to Acquire Trinity Asset Management... "Synergy with the Bank Expected"

First M&A Achievement in Suhyup’s 63-Year History

Sh Suhyup Bank announced on September 15 that its board of directors had convened on the 12th and approved the proposal to acquire Trinity Asset Management. Suhyup Bank plans to sign a stock purchase agreement (SPA) with the current majority shareholder, SK Securities, within this month and complete the acquisition of 100% (600,500 shares) of the common stock issued by Trinity Asset Management.

Suhyup Bank explained that, through its Mergers and Acquisitions (M&A) Division, it had reviewed various factors such as growth potential, profitability, and synergy with the bank across different sectors, and as a result, selected Trinity Asset Management as the acquisition target.

Since its establishment in 2008, Trinity Asset Management has focused on equity fund businesses centered on initial public offerings, high-yield funds, and small-to-mid-cap information technology (IT) stocks. As of the end of June this year, the company manages assets totaling approximately 15.69 billion won in entrusted funds.

A representative from Sh Suhyup Bank stated, "This strategy aims to diversify our business portfolio away from the current interest income-centered profit structure and to achieve sustainable growth by expanding stable profits without increasing risk-weighted assets (RWA)." The representative added, "We expect this will not only improve the bank’s soundness and profitability indicators such as the BIS ratio, ROE, and ROA, but also expand synergies by diversifying our investment product lineup and strengthening financial services for our customers."

Roh Dongjin, Chairman of the National Federation of Fisheries Cooperatives, remarked, "This acquisition of Trinity Asset Management is a meaningful milestone achieved in the 63-year history of Suhyup. I urge you to develop Trinity Asset Management into a leading and exemplary asset management company in the capital market, making it a driving force for a new future and sustainable growth for Sh Suhyup Bank and the entire Suhyup group."