IBK reaches Basel II’s top level of risk management

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IBK reaches Basel II’s top level of risk management

The 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.

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