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Finance

IBK chief Jang Min-young says inclusive finance needs lifecycle support, not just low-rate loans

IBK Industrial Bank of Korea outlined a new growth strategy focused on support for small and midsize firms, AI-driven digital transformation and stronger inclusive finance, CEO Jang Min-young (장민영) said. Jang said inclusive finance should go beyond providing low-interest loans and cover support across the full cycle, including helping vulnerable borrowers after funding and aiding recovery when problems arise. He also said the bank is reviewing issues in the current credit-rating system and other measures.

Finance

iM Bank unveils \'inter-Maum\' inclusive finance brand, vows to boost bank\'s public role

iM Bank on May 11 unveiled its inclusive finance brand, \'inter-Maum\', created using letters from the bank\'s name and meant to link \"between hearts\". The bank plans measures including rate reductions for vulnerable groups, new product launches, debt restructuring and social contribution activities. It will use the brand for related activities, communications, advertising and social contribution. It also plans to provide 7.5 trillion won in financial support over five years.

Finance

KB Kookmin Bank to cut interest above 5 percent, expand support for sole proprietors

KB Kookmin Bank will launch a financial inclusion programme this month to support sole proprietors facing high interest burdens. The bank will apply interest paid above an annual 5 percent rate on eligible sole proprietor loans to repayment of principal. The scheme, part of the KB Kookmin Happy Hope Project, applies when borrowers extend existing business loans. It targets low-credit borrowers with won-denominated loans above 5 percent, excluding some industries and delinquent customers.