IBK reaches Basel II’s top level of risk managementThe Industrial Bank of Korea announced yesterday that it became the first financial company in Korea to apply the highest level of credit risk management according to the Basel II global banking standards.
IBK said in a released statement that Korea’s financial regulators had recognized that after preparing since October of last year, the bank had recently cleared the advanced internal ratings-based criteria within Basel II that requires a financial company to voluntarily tabulate its total risk exposure based on a model developed to fit the company’s particular financial makeup.
More in Finance
Nikola fraud accusations hit Korean investors hard
Kakao Pay's Pavlovian account will mine your data for you
Kospi drops 2 percent as Covid situation worsens overseas
Banks follow the money to church and hope for data
Stocks drop almost 1% as investors question valuations