DGB Financial Group is a South Korean banking holding company

Holding company

A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...

 headquartered in Daegu

Daegu

Daegu , also known as Taegu, and officially the Daegu Metropolitan City, is a city in South Korea, the fourth largest after Seoul, Busan, and Incheon, and the third largest metropolitan area in the country with over 2.5 million residents. The city is the capital and principal city of the...

, Korea

Korea

Korea ) is an East Asian geographic region that is currently divided into two separate sovereign states — North Korea and South Korea. Located on the Korean Peninsula, Korea is bordered by the People's Republic of China to the northwest, Russia to the northeast, and is separated from Japan to the...

. Its flagship company, Daegu Bank, is one of the largest regional banks in the country, mostly serving customers in the Daegu-Gyeongbuk

Daegu-Gyeongbuk

Daegu-Gyeongbuk is the compound word of Daegu and Gyeongbuk , and indicates both administrative provinces in South Korea. With a population of 5.05 million, the region usually forms the same political, economic, and cultural area, although it is not an administratively unitary region...

 region.

Background

The group was founded on May 17, 2011 upon the Financial Supervisory Service's

Financial Supervisory Service (South Korea)

The Financial Supervisory Service is South Korea's integrated financial regulator that examines and supervises financial institutions under the broad oversight of the Financial Services Commission , the government regulatory authority staffed by civil servants.-Financial Supervisory system in S...

approval for the establishment of a financial holding company for Daegu Bank and its two arms, Daegu Credit Information and Kardnet. Ha Chun-soo is currently serving as president and CEO of both Daegu Bank and DGB Fianancial.