KB Kookmin Bank announced on the 31st that a financial incident involving a breach of fiduciary duty occurred, amounting to 13.5629 billion won.
The financial incident occurred over approximately six months, from April 26 to Nov. 30 last year, and was discovered during a regular inspection by the Financial Supervisory Service. The estimated loss amount is undecided, and the collateral amount is about 10.715 billion won.
The bank noted, "Loans were issued to stakeholders of the developer, not to the buyers, during the process of handling loans related to commercial properties," adding that relevant staff will face personnel actions and criminal charges.
On the 10th of this month, KB Kookmin Bank also reported three financial incidents totaling 17.5 billion won. This incident also occurred during the loan process related to commercial properties and was detected in a regular inspection by the FSS.