KB Kookmin Card inks card deal with Bank Central Asia

KB Kookmin Card said it signed an MOU with Bank Central Asia (BCA), the largest financial institution in Indonesia, to help its customers receive credit cards from the bank.

According to the company on Monday, members of KB Kookmin Card will be able to get credit cards from BCA based on their credit rating in Korea.

BCA, based in Jakarta, has about 1,100 branches and 47.3 trillion won ($40.2 billion) in assets.

According to data from Statistics Korea, about 2.47 million Koreans residing abroad are unable to get credit cards from banks in the countries they are living in and experience difficulty opening financial accounts.

KB Kookmin Card will work with the Indonesian bank to build a credit rating system that will analyze consumers’ spending patterns abroad to find potential credit card users with sound financial capabilities.

“Through the latest MOU, our customers will be able to benefit from the Indonesian bank’s card and financial services,” a bank spokesman said. “The two banks will work on more various services in the near future.”