KDB Financial to take on HSBC’s 10 local branches

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KDB Financial to take on HSBC’s 10 local branches

KDB Financial Group has signed a preliminary agreement with HSBC Holdings on the takeover of the latter’s local branches. The British banking giant currently operates 10 branches in Korea. KDB Financial has expressed its willingness to acquire a commercial bank as the group needs to bolster its deposit base ahead of its privatization.

Yonhap

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