KB Financial approved for credit card unit spinoff

South Korea's financial watchdog approved KB Financial to spin off credit card operations from its flagship Kookmin Bank.

The new entity, tentatively named KB Kookmin Card Co., will be launched on March 2 with equity capital of US$2.1 billion and 1,261 employees, the Financial Services Commission said.

KB Financial's plan to establish an independent credit card unit came as part of its efforts to diversify its business portfolio as it now relies heavily on banking operations.

Follow the link for more news on

Also Read

OCBC teams up with Disneyto boost new customer growth in SEA

Vietnam’s debit card payments market to be worth $65.6b in 2028

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit