KB Kookmin Bank, one of South Korea's largest banks, pulls out of New Zealand market

KB Kookmin Bank's NZ branch has been in Auckland since 1997. (Image:NZME)

Wed, 13 Nov 2024

After nearly three decades, South Korea's KB Kookmin Bank has decided to exit the New Zealand banking market. “After a strategic review of the New Zealand financial industry as a whole over the past few years, we have decided to gradually wind down our branch in Auckland and exit the New Zealand banking market over the next few years,” it said in a statement. “Our continued business operations in New Zealand were uncertain in the future. This decision includes both our retail and wholesale banking services.&rdquo...

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