Presidents of Korean-American banks are actively seeking investor relations after finishing up the second quarter of 2017.
Hanmi, Open and CBB have sent their presidents to community bank investment conference, hosted by KBW, which began in New York City on Tuesday. The leaders of those institutions are making an effort to identify current trends of the financial industries, including merger and acquisition, developing networks and finding sources of investments.
Notably, CBB and Open Bank are pursuing opportunities to go public in the near future. That is apparently why CBB Bank president Joanne Kim and Open Bank president Min Kim are aggressively promoting their banks in Manhattan this week.
Hanmi Bank president Chong-guk Kum is also at the event to explore opportunities to find long term investors.
“I attended the event with the ultimate goal of meeting investors from organizations with a long term vision to make investments,” said Kim. “I’m trying my best to promote CBB.”
Sources within the financial industry said that many investors are expressing an interest in Korean banks as they are impressed with their performances.
“Investing is obviously beneficial when it’s done while the economy is in a good state,” said one anonymous source. “When the conditions aren’t so great in a rapidly changing environment, investing could backfire, so there’s definitely a cautious factor involved as well.”
By Sung Chul Jin