Seoul has selected Shinhan Bank as the next city treasury bank to manage 51 trillion won in funds.
On May 12, Seoul said a treasury designation review committee found Shinhan Bank scored the highest for both treasury banks 1 and 2.
Earlier, Shinhan Bank and Woori Bank submitted proposals for treasury bank 1, while KB Kookmin Bank, Shinhan Bank, Woori Bank and Hana Bank submitted proposals for treasury bank 2.
The committee evaluated proposals for treasury banks 1 and 2 based on 6 assessment categories. Shinhan Bank ranked first with 973.904 points for treasury bank 1 and 925.760 points for treasury bank 2.
Based on the results, the city plans to officially announce the designation next week.
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Ji-young Lee
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