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BNK Busan Bank barred from real estate project financing for 3 months

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BNK Busan Bank barred from real estate project financing for 3 months

South Korea's Financial Services Commission banned BNK Busan Bank Co. Ltd. from handling new real estate project financing loans for three months, starting May 28.

BNK Financial Group Inc., the parent of BNK Busan Bank, said May 25 that the FSC imposed the partial business suspension on its unit over lending rule violations.

BNK Busan Bank's real estate project financing accounted for 2.7% of BNK Financial Group's consolidated revenue in 2017, according to the filing.