ID :
212286
Wed, 10/12/2011 - 03:56
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Shortlink :
https://oananews.org//node/212286
The shortlink copeid
Woori Finance inks business tie-up with Spanish bank
SEOUL (Yonhap) - Woori Finance Holdings Co., South Korea's top banking group, said Wednesday that it has signed a preliminary deal to forge a strategic partnership with BBVA, Spain's No. 2 lender.
Under the deal, the two institutions would be able to expand their customer bases and business lines with each other. It would also be able to help Woori introduce financial products from non-Asian markets to the local market.
Woori Finance said the accord will pave the way for the group to expand its presence in the global markets by tapping BBVA's vast networks in the South American market.
BBVA held around 820 trillion won (US$700.9 billion) in assets as of end-2010 and opened its operations in South Korea in September last year.
Under the deal, the two institutions would be able to expand their customer bases and business lines with each other. It would also be able to help Woori introduce financial products from non-Asian markets to the local market.
Woori Finance said the accord will pave the way for the group to expand its presence in the global markets by tapping BBVA's vast networks in the South American market.
BBVA held around 820 trillion won (US$700.9 billion) in assets as of end-2010 and opened its operations in South Korea in September last year.
