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On June 18, 2015, the US Board of Governors of the Federal Reserve System issued a letter granting Financial Holding Company status to KB Financial Group, Inc. and its subsidiary, Kookmin Bank, both of Seoul, South Korea.
On June 18, 2015, the US Board of Governors of the Federal
Reserve System issued a letter granting Financial Holding Company
status to KB Financial Group, Inc. and its subsidiary, Kookmin
Bank, both of Seoul, South Korea. KB Financial Group and Kookmin
Bank are each foreign banking organizations under the Bank Holding
Company Act. In acting on their FHC elections, the Federal Reserve
Board determined that KB Financial Group, Inc. and Kookmin Bank are
well capitalized and well managed under standards comparable to
those applied to US companies seeking to be FHCs and that they are
subject to comprehensive supervision on a consolidated basis.
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