Industrial Bank of Korea
Industrial Bank of Korea (the Bank) is a financial institution that provides a range of banking solutions. It has three business units. SME Banking offers banking services, including lending, venture-financing and research services, to small- and medium-sized enterprises (SMEs). Retail Banking offers consumer banking services, including loans, deposits, money transfers, credit cards and trust accounts. Corporate and Institutional Banking provides Internet banking and e-commerce solutions, foreign exchange services, employee retirement plans and consulting services for corporations. The Bank also provides international banking services, such as correspondent banking, international factoring, investment banking, foreign exchange trading and financial derivatives engineering as well as bankassurance.
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Yesterday the Asian major bourses posted losses, driven by negative sentiment caused in large part by doubts over the financial rescue package in the US and profit-taking. The US President Barack Obama was sending Congress a budget that projects the government's deficit for this year will soar to US$1.75 trillion, reflecting efforts to pull the nation out of a deep recession and a severe financial crisis.
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