Korea Exchange Bank

Korea Exchange Bank (KEB) () is a specialized foreign exchange bank in South Korea. It is headquartered in Seoul, and was established in 1967.Korea Exchange Bank is the fifth largest bank in South Korea measured in assets and the largest foreign exchange bank in South Korea, providing the largest range of foreign exchange products.

Acquisitions

Korea Exchange Bank was acquired in 2003 by Lone Star Funds, a private U.S. equity fund, as part of the general reorganization of the South Korean financial sector following the Asian financial crisis. In 2006, Lone Star tried to sell the company to the highest bidder, Kookmin Bank, but the plan was scrapped when it faced investigations by South Korean prosecutors and regulators.

In September 2007, HSBC agreed to purchase a controlling stake for $6 billion, but the sale was not approved by the South Korean government.

In September 2008, Kookmin Bank and Hana Bank were considered for a takeover of KEB after HSBC failed to acquire the bank in 2007.

History

Korea Exchange Bank was established in 1967 as a government-owned bank specializingin foreign exchange. It was privatized in 1989 and was one of Korea's first commercial banks.

• January 1975:Started securities business
• April 1978:Launched Korea's first credit card service
• March 1983:Issued travelers cheques
• February 1985:Official sponsor bank for 1986 Asian Games & 1988 Seoul Olympic Games
• April 1994:Listed on Korean Stock Exchange
• December 1995:Opened...... ...
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