BNK Financial Group has established a new subsidiary microfinance organization in Tashkent, Uzbekistan, as per to Yonhap News Agency. The opening ceremony for BNK Finance took place on June 13, coinciding with the first day of South Korean President Yoon Suk Yeol's visit to Uzbekistan. The event was attended by BNK Financial Group Chairman Bae Dae-In.
The new microfinance company in Tashkent will focus on issuing loans for housing and car purchases and providing financial support to Uzbek citizens traveling to work in South Korea.
The BNK delegation held discussions with the Central Bank of Uzbekistan two years ago, exploring opportunities in the local banking and financial markets. The Central Bank noted BNK's interest in entering and competing in Uzbekistan's financial sector.
About BNK Financial Group
BNK Financial Group Inc., headquartered in Busan, South Korea, was founded in 2011. The company offers a range of services including banking, investment, brokerage, microcredit, and leasing. BNK reported a profit of 791bn Korean won (approximately $629.7mn) on a revenue of $4.2bn in 2021, with assets exceeding $100bn. BNK was included in the Forbes Global 2000 ranking for 2022.
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