Korea Republic-based Kyongnam Bank plans to expand its presence in Uzbekistan and open a subsidiary bank specializing in digital banking services, announced the bank’s CEO, Choi Hong Yong, at a meeting with the leadership of the Uzbek Central Bank (CB).
In turn, the CB explained the procedure for opening a bank in line with the current legislation of Uzbekistan.
BNK Kyongnam Bank was established in 1970 and provides all types of banking services: loans, transactions and cash services, insurance services. It is part of the BNK Financial Group (which also includes Busan Bank and several financial companies) and is one of the largest banks in the Republic of Korea. In March 2021, Kyongnam Bank opened a representative office in Uzbekistan in line with the accreditation of the Central Bank.