JB Financial targets Central Asia through acquisition of 2 Kyrgyz firms
JB Financial Group is expanding into Central Asia through the planned purchase of two Kyrgyz financial firms, broadening an overseas business portfolio built largely around Southeast Asia, the company said Thursday. JB Woori Capital, its consumer finance subsidiary, has agreed to buy Korky Credit and Korky Leasing from their parent, Epoche. The deal covers all shares in both companies and is…
JB Financial Group is expanding its business presence in Central Asia with the planned acquisition of two Kyrgyz financial firms, Korky Credit and Korky Leasing, from their parent company, Epoche. The deal, which includes all shares in both companies, is anticipated to close before the end of the year, pending regulatory approval and registration in Kyrgyzstan.
This acquisition will expand JB Financial's reach to a fifth overseas market, complementing its existing operations in Southeast Asia, which include commercial banking, microfinance, and securities services. Additionally, JB Financial recently secured regulatory approval in Indonesia to acquire an 85 percent stake in KB Bukopin Finance, a local financing company.
The company's focus on Kyrgyzstan is fueled by its youthful population, with approximately 70 percent of the country's residents under the age of 40, and its robust economic growth, which expanded by 11.1 percent last year, according to international sources.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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