Alphabiz - DGB Financial Group has announced a capital increase of 100 billion KRW for iM Bank (formerly DGB Daegu Bank), which has transitioned into a commercial bank.

DGB Daegu Bank main branch view. (photo = DGB Daegu Bank)

[Alpha Biz= Reporter Kim Sangjin] On the 26th, DGB Financial Group disclosed that iM Bank will conduct a capital increase through a rights offering of 200,000 new shares, with an issue price of 50,000 KRW per ordinary share. DGB Financial Group will participate in this capital increase by issuing 1 trillion KRW worth of new capital securities.

Earlier, iM Bank announced plans to increase its capital by 700 billion KRW over the next five years through rights offerings, following approval from the Financial Services Commission to convert into a commercial bank.

Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)