Form 6-K Current Reports
New Business Development: Branch Network Restructuring(Nov.15,2002)
2002-11-18On November 15, 2002, Kookmin Bank announced the following plan for the future.
Branch Network Restructuring
Since its merger, Kookmin Bank has been consolidating its branch office network through gradual adjustment, relocation and functional conversion of the overlapping branches with a view to improve revenues and efficiency. As a newly recent initiative as part of the consolidation in progress, Kookmin Bank will close 55 branches during December.
According to the announcement, 52 branches will shut down for closure after business on December 13, 2002 and the remaining 3 branches thereafter.
It was also disclosed that any additional closure has not yet been decided for 2004.
• Caution
This document contains forward-looking statements, as defined in the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Kookmin Bank's current views with respect to future events, and are subject to certain risks and uncertainties, which could cause actual results to differ materially from those anticipated. Although Kookmin Bank believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. Kookmin Bank undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.