Washington D.C, March 1st, 2023 – Industrial Bank of Korea (IBK) joins the SME Finance Forum as the newest member of our global membership network. Our members are SME financing experts from 80+ countries who share the common goal of expanding access to finance to small businesses worldwide through knowledge exchange and innovation.
“Since 2016, we’ve been implementing our mission to build a global membership to support better SME financing, and since then, we’ve established a network with over 240 active member institutions, which operate in over 190 countries sharing the common purpose of helping under-served enterprises. “We are delighted to welcome Industrial Bank of Korea, a crucial actor in promoting economic activities of SMEs in Asia.” said Matthew Gamser, CEO of the SME Finance Forum.
The Industrial Bank of Korea is a government-owned bank established in 1961 to promote the independent economic activities of SMEs by providing them with specialized banking services. By acting as a stable partner for SMEs, IBK has become a cornerstone of the national economy despite hardships such as the Asian Financial Crisis and the Global Financial Crisis. IBK’s vision is to become a ‘Top SME Bank in Asia’ by establishing a successful and distinctive SME-centric business model.
About SME Finance Forum
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research, and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative. The Forum operates a global membership network of +240 members that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
Discover the SME Finance Forum members: https://www.smefinanceforum.org/members/member-list
About Industrial Bank of Korea
The Industrial Bank of Korea was established in 1961 pursuant to the ‘Industrial Bank of Korea Act’ by the Government of Korea. Its mandate is to provide banking as well as other support services to small and medium-sized enterprises in Korea. IBK currently has 8 subsidiaries to complement its main baking business and operates a global branch network with over 690 branches, through which the bank provides a comprehensive range of banking services to its customers.
Learn more: https://global.ibk.co.kr/