KB Financial bolsters ties with global financial firms

KB Financial Group Chairman Yoon Jong-kyoo (center) and James Quigley, Bank of America's international corporate and investment banking division vice chairman (second from left) pose for a photo ahead of KB Financial Group's cocktail reception in Incheon, Thursday. (KB Financial Group)

KB Financial Group hosted its "Cocktail Reception" on Thursday at the Sheraton Grand Incheon with key players in the global financial industry. The event showcased the Korean company's businesses and growth strategies while exploring potential opportunities for collaboration.

The reception also served to commemorate the 56th Annual Meeting of the Asian Development Bank, which took place in Incheon last week.

Seventy KB Financial Group executives, including Chairman Yoon Jong-kyoo and KB Kookmin Bank CEO Lee Jae-keun attended the reception.

“KB Financial Group aims to collaborate with global partners and foster mutual growth and development, with the aim of establishing itself as a top regional financial group that represents Asia,” Yoon said.

Over 200 key figures from more than 50 institutions worldwide attended the event as well, including Gandi Sulistyanto, the Indonesian ambassador to South Korea; James Quigley, vice chairman of Bank of America's international corporate and investment banking; Dinesh Khara, chairman of India's largest lender State Bank of India; Morris Li, chairman of Taiwan's largest lender CTBC Bank; Anju Abrol, Asia-Pacific representative of ING Bank; and Tetsuro Imaeda, deputy head of SMBC Bank in Japan.

During the reception, representatives from 16 global financial companies such as Wells Fargo, Macquarie, BlackRock, Societe Generale and Mitsubishi UFJ held separate business meetings with KB Financial Group executives.

Prior to the reception, KB Financial Group's Chairman Yoon and key executives of the group met with representatives from six global financial institutions -- Bank of America, ING Group, Agricultural Bank of China, State Bank of India, Daiwa Securities of Japan and CTBC Bank of Taiwan -- to discuss potential cooperation opportunities in detail.

As a result of these meetings, KB Financial Group signed a won-rupee mutual commitment line agreement with the State Bank of India.

In addition, KB Financial Group and CTBC Bank discussed plans for cooperation in debt capital markets, equity capital markets and syndicated loans for Korean and Taiwanese companies in the global market. The Korean financial group also discussed jointly providing potential investment opportunities in the US securities and asset management market for Korean investors with Bank of America.

By Song Seung-hyun(ssh@heraldcorp.com)