The Industrial Bank of Korea (Abbreviation: IBK; Hangul/Hanja/Romanization: 중소기업은행/中小企業銀行/Jungso Gieop Eunhaeng) or simply known as Kiup Bank is a wholly state-owned policy bank in Korean Republic. It was founded in 1961 in accordance with the Indusrial Bank of Korea Act to promote independent economic activities of small and medium enterprisers and to enhance their economic status by establishing the Industrial Bank of Korea which contributes to the establishment of efficient credit system for the small and medium enterprisers. The headquarters of the bank is located at 79 Eulji Avenue, Euljiro 2-ga 50-beonji, Seoul Jung-gu.
Kiup Bank provides various banking products and financial services to individuals, households, local governments, non-profit organizations, and small and medium sized enterprises in Korea. It operates through seven segments: Retail Banking, Corporate Banking, Money Market, IB, Credit Card Operations, Foreign Exchange, and Others. The company accepts various deposit products, such as demand, installment, time, and certificates of deposits, as well as savings and current accounts; and offers retail loans, mortgage loans, overdrafts, and other credit facilities. It also provides credit cards and related services, trust account management, and research and advisory services; financial and real estate advisory services to high net worth retail customers; investment and banking products and services; bancassurance; and annuity, retirement, and pension and life insurance products.
In addition, the company offers money transfers and trade, trade advisory, asset management, credit information, financial system management, and mutual savings banking services. Further, it is involved in the issue of asset-backed securities; establishment, operation, and management of private equity funds; international and securities investments; and mergers and acquisition, venture financing, and project financing activities, as well as city maintenance business. Additionally, the company offers future funds management, information system development and consulting, and security and futures trading services; and smart banking, and telephone and Internet banking services, as well as exchange rate and foreign investment services.
As December 31, 2014, it operated through a network of 641 branches, including 53 depositary offices in Korea; 15 branches in China; and 6 overseas branches in other countries, as well as representative offices in New Delhi and Yangon. Kiup Bank has written its own history when Kwon Seon-joo - a graduate from Yonsei University in Bachelor of Arts in English Language became the CEO of the bank in 2013 and thus became Korean Republic's first female bank CEO.