KEB Hana Bank signs US$200m investment deal with CM International Holding

[THE INVESTOR]  KEB Hana Bank has sealed an investment deal worth US$200 million with CM International Holding, an arm of China Minsheng Investment, the South Korean lender said on Aug. 29.

Singapore-based CM International Holding is preparing to tap into the Chinese insurance market after acquiring the entire stake in global reinsurer Sirius International Insurance Group for about US$2.2 billion in 2015. 

KEB expects an average return of 12 percent to 13 percent annually through the investment.

“We plan to achieve our growth target by entering overseas non-banking markets which create higher growth and profit margin than the banking sector,” an official at KEB said.

By Park Han-na (hnpark@heraldcorp.com)