KDB aims to become Asia’s leading bank

By Kim Jae-won

Staff reporter

The Korea Development Bank (KDB) has played a major role in advancing the nation's economy providing loans for local companies since it was launched in April 1954, just nine months after the Korean War ended.

The state-run lender has focused on corporate banking for the last five decades, but now is turning its eyes beyond Korea to move forward as a global commercial investment bank.

In line with the government's policy to transform Korea into a financial hub, KDB has adopted the vision of becoming a leading bank in Asia. To broaden its business presence beyond the nation's borders, it decided to focus on four core financial services ― corporate, investment and international banking, and corporate restructuring and consulting ― targeting customers both at home and abroad.

So far, KDB has a total of 14 overseas offices ― seven branches, five subsidiaries and two representative offices ― all in main cities in Asia, Europe, the U.S. and South America. KDB plans to add more overseas offices and branches to expand its presence globally.

The expertise and experience over the past five decades will undoubtedly serve as a springboard for KDB to forge ahead. By remaining responsive to the ever-changing needs of its customers and offering quality, tailored financial solutions, KDB looks forward to seeing its list of international clients and business partners grow in the years ahead.

In addition to raising the competitiveness of its core businesses, KDB aims to align its business practices to meet the highest ethical standards. The state-run lender is also eager to elevate its financial status to that of leading global banks.

By 2011, KDB plans to strengthen its financial position by attaining a total equity of 15 trillion won ($13 billion), a return-on-equity, or ROE of 18 percent, and a ratio of non-performing loans, or NPL to less than 1 percent.

KDB marked 112.3 billion won of net income in the first quarter of 2010 showing robust rebound from the same time in the previous year. Its total asset reached 121.3 trillion won in March.

KDB believes that it has a responsibility to make a positive contribution to society aside from its role as a financial institution. By building a culture of volunteerism and philanthropy, KDB seeks to encourage its staff to make a difference in the lives of individuals all across the country through community service.