Busan Mutual Savings Bank, the unlisted South Korean bank, plans to sell Jeonju Savings Bank, reported the Asia Economy.
The report cited an unnamed insider at Busan Mutual Savings Bank as saying that it has mandated KTB Asset Management as a financial advisor for the sale of Jeonju Savings Bank and Jungang Busan Mutual Savings Bank.
Jeonju Savings Bank, an unlisted regional bank based in the city of Jeonju, has a total asset of KRW 438bn (USD 371.7m).
It was earlier reported that Busan Mutual Savings Bank would place Jungang Busan Mutual Savings Bank, the unlisted South Korean bank, up for sale.
Source: Asia Economy (translated)
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