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Report: DGB Financial Group doesn't subscribe to K Bank's rights issue

DGB Financial Group Co. Ltd. did not participate in a rights issue by K Bank Co.Ltd., The Financial News reported, citing industry sources.

DGB Financial currently owns about 3% of the digital bank through unit DGB Capital Co. Ltd..

K Bank has been seeking fresh funds from existing shareholders including Woori Bank and DGB Financial Group.

KT Corp.'s plan to invest about 590 billion won to become K Bank's top shareholder has been put on hold over a delay in obtaining regulatory approval.

As of Aug. 14, US$1 was equivalent to 1,217.04 South Korean won.