Overview

KEB was established on January 30, 1967, as a government-invested bank to engage in foreign exchange and trade finance business under the Korea Exchange Bank Act proclaimed on July 28, 1966. On December 30, 1989, the Korea Exchange Bank Act was repealed, and KEB was converted into a corporation under the Commercial Code of the Republic of Korea. The merger between KEB and Korea Exchange Bank Credit Service Co., Ltd. was finalized on February 28, 2004. KEB primarily provides commercial banking services, trust banking services, foreign exchange, merchant banking business through the merger with Korea International Merchant Bank, a domestic subsidiary of the Bank, and other related operations as permitted under the Banking Act, the Capital Market, and the Financial Investment Business Act and other relevant laws and regulations in the Republic of Korea. On March 15, 2013, the Group’s Board of Directors approved a share swap contract to acquire a 100% stake in KEB. Under the contract, KEB was incorporated into the Group’s wholly-owned subsidiary as of April 5, 2013. As of September 1, 2014, Hana Card (formerly, KEB Card) was spun off from the credit card business unit of KEB. KEB merged with Hana Bank and changed its name to KEB Hana Bank on September 1, 2015. KEB Hana Bank is part of the Hana Financial Group. Together they provide commercial banking services to retail and corporate customers across the globe. KEB Hana Bank consists of a network of 134 foreign branches in 24 countries, mainly in Europe, the Middle East, the Americas, and in particular in the Asia-Pacific region.