KDB ?the integrated bank of KDB, KDB Financial Group and KoFC
?is expected to post about 100 billion in net losses for 2014 due to increased loan-loss provisions and other costs, the bank said in a statement.
All of the balance sheet items relating to KoFC
-- including all debt rated by Moody's -- was transferred to KDB upon the re-merger.
KDB's importance has been strengthened further following the announcement of its re-merger with KoFC
as part of the GoK's agenda to streamline and reinforce the roles of various policy banks in South Korea.
The re-merger of KDB and KoFC
is expected to take place in July 2014.
The MOU signals the interest in KoFC
to partner with GIC as its preferred partner for investments into the GCC region.
The issuer default ratings (IDRs) of four of the policy financial institutions (KoFC
, KEXIM, KDB and IBK) are equalised with those of the sovereign in view of the solvency guarantees for the entities provided by the state.
chief executive Ryu Jae-han reportedly said at the parliamentary committee that the firm was looking to raise capital 'equivalent of USD1bn.' Rye also said that the state-run company will pursue strategic global bond issuances going forward to set a benchmark for other local borrowers in the international financial market.
is a State Corporation under the Ministry of State for Defence mandated to manufacture Hardware, Machinery and Equipment.
At the same time, Moody's has kept on review for upgrade KDB's standalone BFSR of D which is equivalent to a baseline credit assessment (BCA) of ba2, in order to consider the pro-forma financial profile, in light of its planned re-merger with Korea Finance Corporation (KoFC
, Aa3 stable) on 1 January 2015.
) in January, which was spun off in 2009 as part of the previous government's drive to privatize public institutions.
Korea Finance Corporation (KoFC
) will launch global cooperation funds as large as US$600 million: the Korea-Middle East Cooperation fund, the Korea-China fund and the Korea-Australia fund, each worth US$200 million.