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Kookmin to Weight Services

Feb 16,2001
The chief executive officer of Kookmin Bank, Kim Sang-hoon, said Friday that the bank is considering a plan to differentiate the services it offers to its customers based on the level of cash they have in their accounts.

"About 12 percent of customers who keep a sizable amount of deposits account for about 80 percent to 90 percent of the bank's profit," Mr. Kim said. "So the bank is planning to adjust services extended and fees charged to customers according to the size of their accounts."

To help the company cut costs, the chairman said that the bank would encourage customers to use automated teller machines, but added that tellers would still provide face-to-face service to seniors and the handicapped.

Assuming that its merger with the commercial bank H&CB is carried out successfully, Kookmin will be listed on the New York Stock Exchange, Mr. Kim said, as H&CB is already listed there. For that development, Kookmin is preparing a report of its business history, which will cover the past two years, to submit to the U.S. exchange.



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