Poland's financial watchdog authorises Industrial Bank of Korea to establish IBK Bank Poland
Poland's financial market regulator KNF authorised Industrial Bank of Korea IBK to establish a bank in Poland in the form of a joint stock company under the name IBK Bank Poland, the regulator wrote on it's website.
At the same time, KNF approved the draft articles of association of this bank and the composition of its first management board, appointing Pawel Ziolkowski as chairman of the management board, Szymon Hajduk as member of the management board supervising material risk management and Ji Wook Kim as board member supervising business areas.
IBK, the founder of the emerging bank, is one of Korea's largest banks and is a bank controlled by the Korean government.
IBK Bank Poland is intended to be a corporate bank serving primarily small and medium-sized enterprises.
Based on the authorisation, IBK Bank Polska will prepare for operational activities.
Under the banking act, it will be able to carry out banking activities and provide other services specified in the bank's business objects - after obtaining a separate authorisation from the commission to start operations.
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