[Alpha Biz=(Chicago) Reporter Kim Jisun] DGB Daegu Bank is expected to be converted into a commercial bank.

The Financial Services Commission announced improvements, such as actively allowing new entry to promote competition in the banking sector through banking management, business practices and system improvement task force activities.

The Financial Services Commission plans to decide whether to switch financial companies by reviewing whether they meet the requirements if they apply for a change, and the financial authorities plan to resolve the existing banking oligopoly system centered on five major commercial banks using Daegu Bank.

If Daegu Bank switches to a commercial bank, a new commercial bank will emerge for the first time in more than 30 years since the Peace Bank of Korea in 1992, and it will be the first commercial bank with its headquarters in the region.

Daegu Bank was the first local bank in Korea established in 1967, and it was the first commercial bank established by pure private capital after liberation.

As of the end of March 2022, Daegu Bank has assets of 73.9 trillion won, a total receipt of 59.6 trillion won, and a loan of 50.5 trillion won.

 

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