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Photo = Financial Supervisory Service (FSS) |
[Alpha Biz= Paul Lee] According to financial industry sources on Monday, the Financial Supervisory Service (FSS) has designated BNK Financial Group, Busan Bank, and Kyongnam Bank as the first targets for regular bank inspections this year, starting today.
The FSS had planned to conduct the regular inspection of BNK Financial Group last year, but the schedule was delayed due to incidents such as the loss crisis related to Hong Kong H-Index-linked securities (ELS) and improper loans involving family members of former Woori Financial Group Chairman, Son Tae-seung.
During this inspection, the financial authorities will focus on reviewing BNK Financial Group’s internal control systems, among other areas.
Earlier, a case was uncovered at Kyongnam Bank, where an employee responsible for managing funds related to real estate project financing (PF) loans embezzled approximately 3 trillion won of company funds.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
