Korea Development Bank
South Korean state-owned enterprise / From Wikipedia, the free encyclopedia
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Korea Development Bank (KDB Bank) is a South Korean state-owned development bank which aims to encourage the industrial development of South Korea.
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Native name | 한국산업은행 |
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Company type | State-owned enterprise |
Industry | Banking |
Founded | 1954; 70 years ago (1954) |
Headquarters | Seoul, Republic of Korea (South Korea) |
Number of locations | 69 domestic, 22 international |
Products | Financial services |
Services | Corporate banking Investment banking |
Revenue | US$3.2b (2018) |
US$0.6b (2018) | |
Total assets | US$233.9b (2018) |
Owner | Republic of Korea government (100%) |
Number of employees | ~3,200 (as of Dec 2018) |
Rating | Aa2 (Moody's, 2018), AA (S&P, 2018), AA− (Fitch, 2018) |
Website | www |
It was founded in 1954 in accordance with The Korea Development Bank Act to finance and manage major industrial projects to expedite industrial development of Korea.[1]
As of 2018[update] it was the 61st biggest global bank according to the The Bankers top 1000 World Bank List. KDB Bank has not only fostered the growth of strategic industries but also facilitates the turnaround of troubled companies through restructuring and providing capital for strategic development projects.
Since 2000, it has diversified into investment banking services and operates as a Commercial and Investment Bank.[2] Nevertheless, it is a major restructuring player and has saved a lot of big companies during major financial crisis, especially in 1997 Asian financial crisis and Financial crisis of 2007–2008.