Bloomberg News

Korea Exchange Bank to Increase Overseas Profit, CEO Yun Says

March 15, 2012

Korea Exchange Bank (004940) will increase profit from overseas business by tapping East Asia, the U.S. and South American markets as the Seoul-based lender seeks growth beyond a saturated domestic market.

The bank targets about 15 percent of earnings from abroad, up from about 10 percent now, Chief Executive Officer Yun Yong Ro told reporters today. The bank may pursue takeovers or use its overseas units for the expansion, the CEO said.

Yun was appointed last month after Hana Financial Group Inc. (086790) bought the bank from Lone Star Funds and Export Import Bank of Korea.

To contact the reporter on this story: Seonjin Cha in Seoul at scha2@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net


Hollywood Goes YouTube
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus