News Column

Russian Federation : KEB plans for MOSCOW subsidiary

June 10, 2014

On Monday, South Korean lender Korea Exchange Bank (KEB) announced plans to open a local subsidiary in Moscow later during this year. This plans forms part of an initiative to boost its overseas operations.

The bank plans establishment of the subsidiary in August and expand its business operations to retail banking. Since 2008, the bank has operated an office in the Russian capital, but its business had largely been focused on South Korean companies and clients.

By 2025, KEB plans to boost the portion of its overseas revenue to 40 percent of its total.

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Source: TendersInfo (India)

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