Industrial Bank of Korea (024110) signed a supplier financing agreement with Public Homeshopping on September 7, Newsis reported Monday. The retailer deposited ₩20 billion with the bank to support a ₩30 billion lending program for recommended suppliers.
Eligible companies may borrow up to ₩200 million for as long as two years under the program. The automatic interest rate discount rises to 2.6 percentage points from the previous level of 1.9 percentage points.
Further discounts linked to credit ratings and banking relationships can bring the total reduction to 4.3 percentage points. The company's market capitalisation was ₩16.7 trillion at Monday's close.
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| Symbol | Last Price |
|---|---|
| 024110Industrial Bank of Korea | ₩20,900 +1.0% |