Hana Financial Group is expected to take over Jeil 2 Savings Bank and Ace Mutual Savings Bank, beating another bidder Kiwoom Securities, according to government officials.
An official of the Korea Deposit Insurance Corp. said Thursday that the state-run agency will unveil the preferred bidder as early as Friday. He added that “there is a high possibility that Hana Financial will be picked.”
Jeil 2 Savings Bank, which is headquartered in Seoul, has assets of 503.7 billion won ($441.8 million). Ace Mutual is based in Incheon and Gyeonggi Province and has asset of 673.4 billion won.
The KDIC recently selected Shinhan Financial Group as the preferred bidder for Tomato Savings Bank, the No. 2 player in the secondary banking sector.
KB Financial Group has been picked as the preferred negotiator for Jeil Savings Bank.
The KDIC also allowed Busan-based BS Financial Group to acquire two players ― Prime Savings Bank and Parangsae Savings Bank ― as a package deal.
By Kim Yon-se (
kys@heraldcorp.com)
