Pureun Mutual Savings Bank Co., Ltd announces an Equity Buyback for KRW 5,000 million worth of its shares.
March 03, 2020 at 02:12 am EST
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Pureun Mutual Savings Bank Co., Ltd (KOSDAQ:A007330) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of own shares pursuant to a contract with KEB Hana Bank. The purpose behind the program is to stabilize stock price and investor protection. The repurchase program will expire on March 4, 2021. As of March 2, 2020, the company had 2,798,955 treasury shares within scope available for dividend and no shares in treasury through other repurchase.
Pureun Mutual Savings Bank Co., Ltd is a Korea-based savings bank. The Bank offers deposit and loan services for individuals and corporate clients. The Bank provides deposit services including income installment deposit, common deposit, fixed deposit, free installment deposit, fixed installment savings and cover bill deposit, as well as loan services including installment loan, discounted bill, loan under contract amounts, loans secured by deposit, passbook loan, common loan and others. It also involves in the provision of phone banking services, cash card services, Internet banking services and others.