Two Korean banks to merge
Lee Kwan Woo, president of Hanil Bank (R), and Bae Chan
Byung, president of Commercial Bank of Korea, announce July 31 they
have agreed on an equal-footing merger to create South Korea's
largest commercial bank with assets of 85.25 billion U.S. dollars.
For the time being, the new bank's name will be Commercial-Hanil
Bank, though a public contest will be held later to determine a new
name, they said. Hanil Bank is the ountry's fourth-largest commercial
bank, while Commercial Bank of Korea ranks fifth.
- Product Code
- Registered date
- 1998/7/31 15:00:00
- Kyodo / Kyodo News Images
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