IBK Bank and KDB Bank are involved in a financial incident totaling 678 billion won related to the same client. However, the loans from this client are currently classified as normal with no delinquencies, meaning the reported amount has not yet been confirmed as an actual loss.
On August 21, financial sources reported that IBK Bank disclosed a financial incident involving 9.4 billion won due to fraud by an external party. The incident occurred over a period of approximately four years and ten months, from March 16, 2021, to January 13 of this year. The estimated loss amount has not yet been finalized.
IBK Bank stated that the incident was discovered during the process of recognizing facts related to an investigation of another financial institution, rather than through its own internal checks. Authorities are currently investigating the case.
This incident is the same one that KDB Bank reported on August 6, involving a financial incident of 583.5 billion won. When the amounts disclosed by both banks are simply added together, they total 677.9 billion won.
KDB Bank became aware of the incident while receiving a search warrant from the police related to allegations of corporate finance fraud involving the client. The estimated loss amount reported by KDB Bank matches the incident amount, but since collateral values are not reflected, the actual loss may vary depending on the outcome of the investigation and debt recovery efforts.
This marks the third financial incident involving external fraud reported by IBK Bank this year. Last month, the bank disclosed a financial incident of 833.8 billion won involving its overseas subsidiary, and earlier this month, it corrected a previously reported amount of 47.8 billion won to 182.2 billion won for a separate financial incident. Including this latest incident, the total amount related to external fraud allegations reported by IBK Bank this year is approximately 1.11 trillion won.
* This article has been translated by AI.
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