With these additions, the bank now operates three branches in India, including its Gurugram branch, which opened in 2019. This expansion follows four months after the Reserve Bank of India granted final approval for the new branches in June.
The Korean bank explained that Chennai serves as a commercial and manufacturing hub in southern India. Pune in western India is emerging as a center for advanced technologies, including IT and biotechnology. The new branches will provide deposit and lending services, export and import financing, personal banking, and digital financial services, in coordination with the existing Gurugram branch.
KB Kookmin Bank also plans to expand its offerings in investment banking and supply chain finance to meet the needs of clients and strengthen its presence in the Indian market.
"The Indian market has immense potential, and the opening of the Chennai and Pune branches will help fulfill the diverse financial needs of the local market. We will continue striving to become an innovative and trustworthy financial partner for our customers," KB Kookmin Bank said in a press release.
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