Korea Exchange Bank (Abbreviation: KEB; Hangul/Hanja/Romanization: 한국외환은행/韓國外換銀行/Hankook Oehwan Eunhaeng) is a specialized foreign exchange bank in South Korea. It is headquartered at 66 Eulji Avenue, Euljiro 2-ga 181-beonji, Seoul Jung-gu - located opposite to SK T-Tower, Industrial Bank of Korea Headquarters and Hana Bank Headquarters. Korea Exchange Bank is the fifth largest bank in South Korea measured in assets (excluding IBK and KDB) and the largest foreign exchange bank in South Korea, providing the largest range of foreign exchange products.
KEB is founded in 1967 as a state-sponsored bank specializing in foreign exchange. In the midst 1997 Asian Financial Crisis, the entire staff marshaled its resources and embraced change which ultimately improved the bank's revenue structure. As a result, KEB has earned recognition from some of the world's most prominent financial journals, as a bank specializing in trade finance, foreign exchange and international finance.
The bank provides commercial banking, trust banking, foreign exchange, and merchant banking services to retail and corporate customers in South Korea and internationally. The company accepts current, savings deposit, fixed deposit, and time deposit accounts; and grants mortgage loans, loan on deposit collateral, industrial loans, overdrafts, discount of commercial bills, trade finance, and loan of fund for equipment, as well as loan for L/C settlement and foreign currency loans. It also provides investment banking and foreign exchange transaction services; financial advisory services and derivatives transactions; and brokerage, bancassurance, and investment products, as well as real estate and estate management services. In addition, the company offers credit cards; and Internet and telephone banking services.
In March 2nd 2012, Hana Financial Group Inc. completed its 4.4 trillion won ($3.9 billion) purchase of Korea Exchange Bank from Lone Star Funds and Export Import Bank of Korea, allowing Hana to narrow a gap with rivals and the U.S. fund to exit the investment after eight years. The subsidiary office in Indonesia, Perseroan Terbatas KEB Bank merged with PT Bank Hana to establish PT Bank KEB Hana, the first integrated entity within the group in the same year.
As of March 31st 2014, it had 350 branches in the Republic of Korea, and 14 branches and 6 representative offices in 23 countries, as well as operated approximately 2,704 automated teller machines throughout Korea.