(South Korea) – South Korea’s state controlled Chohung Bank is reportedly planning to bid for Seoulbank, although has yet to submit a formal letter of intent.Seoulbank is still chasing a buyer after deals to sell the nationalised lender to Deutsche Bank and HSBC Holdings went nowhere.
Seoulbank is the smallest of South Korea’s major commercial lenders and was one of several banks nationalised following the 1997-98 Asian financial crisis.