Disposition of Shares in National Information & Credit Evaluation
2002-01-03On January 3, 2002, Kookmin Bank announced its disposition of its share in National Information & Credit Evaluation, Inc. (the “Company”)
The Company is a credit information service agency which provides credit information of business firms and individuals. As of June 30, 2001, the paid-in capital and total assets of the Company are 23.7 billion Won and 66.2 billion Won, respectively. On January 2, 2002, Kookmin Bank disposed 400,000 shares at 4.2 billion Won, reducing its shareholding to 7.85%.
Pursuant to the Use and Protection of Credit Information Act, a financial institution shall not hold 10% or more share of any credit evaluation company. Kookmin Bank’s stake, however, exceeded 10 % due to the merger between “old” Kookmin Bank and H&CB. By disposing above shares, Kookmin Bank satisfied the requirement set by the Use and Protection of Credit Information Act to hold no more than 10% share in the Company.
Upon completion of the disposition, Kookmin Bank shall have fifteen subsidiaries with assets totaling 20,449 billion Won.