Discover Busan Bank's Full Range of Services

Busan Bank offers a wide range of services to cater to its customers' diverse needs. From personal to corporate banking, they have got it all.

For personal banking, Busan Bank provides current accounts, savings accounts, and time deposits. These accounts help individuals manage their finances efficiently.

Their corporate banking services include cash management, trade finance, and investment banking. These services enable businesses to grow and thrive in the market.

With Busan Bank, customers can also enjoy online banking services, allowing them to manage their accounts and transactions remotely.

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Busan Bank has a partnership with the BC Card Network, which allows for various card services.

You can apply for a SUM bank affiliated BC Master credit/check card through Busan Bank's internet banking and mobile banking app.

This card can be connected to your Busan Bank account, in addition to the SUM bank mobile bank book.

Busan Bank is a member of the BC Card Network, which opens up a world of possibilities for card services.

You can apply for a SUM bank BC Master credit/check card through Busan Bank internet banking and the banking app, a much more convenient option than the old Lotte Card.

One notable fact is that all SUM bank affiliated Lotte Cards were discontinued on March 1, 2020.

However, the SUM bank BC Master credit/check card is still available, and it can be connected to your Busan Bank account in addition to the SUM bank mobile bank book.

Here are some details about the available card services:

With Busan Bank Internet Banking, you can exchange currencies like the United States dollar, Japan yen, EU euro, and China yuan.

These currencies are available for exchange at Busan Bank Internet Banking, making it convenient for customers to manage their finances.

If you're traveling to or from Busan, you can also use the currency exchange ATMs at the Busan Port Passenger Terminal branch (JPY) and Gimhae International Airport branch (USD/JPY), which are available all year round.

The currency exchange ATMs at these locations are limited to USD and JPY, so be sure to check the options before heading out.

Here are the currencies you can exchange at Busan Bank Internet Banking:

Busan Bank has formed partnerships with various financial institutions to expand its services and reach a wider customer base.

One notable partnership is with the Bank of Korea, which has helped Busan Bank to improve its risk management and financial stability.

Busan Bank has also partnered with local businesses to provide tailored financial solutions for their needs.

This partnership has allowed Busan Bank to offer specialized loans and credit services to small and medium-sized enterprises.

Busan Bank's partnerships have contributed significantly to its growth and success in the market.

The bank's commitment to collaboration and innovation has enabled it to stay competitive and provide better services to its customers.

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Busan Bank's Systems Operation team was particularly interested in a tape backup system for its long-term storage capability and stable operation.

The Quantum Scalar i6000 automated tape library was scalable up to 12,006 slots, making it a solution that could keep pace with the bank's growth.

The library's Extended Data Life Management (EDLM) capability automatically checks tape media cartridges for data integrity issues, preventing data errors before they happen.

Busan Bank's Systems Operation team knew they needed a scalable solution that could keep pace with the bank's growth. They were particularly interested in a tape backup system for its long-term storage capability and stable operation.

The Quantum Scalar i6000 automated tape library was the perfect fit, scalable up to 12,006 slots. This allowed the bank to expand its storage capacity as needed.

The Scalar i6000 has improved backup performance by up to 130 percent, reducing the backup window by more than half. This is a significant improvement, especially for a bank that handles large amounts of financial data.

The system's scalability also means that it can handle the bank's growing data needs without taking up more space in the data center. This is a major advantage, especially for businesses that are expanding rapidly.

By choosing the Quantum Scalar i6000, Busan Bank was able to create a flexible and reliable IT infrastructure that allows them to provide financial services continuously, even in the case of a disaster or emergency.

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Moody's has a significant impact on Busan Bank's earnings, predicting a decline in the coming year due to a modest narrowing of net interest margins to 2% in 2023 from 2.19% in 2022.

Lending rates have peaked, and funding costs will remain high due to a more significant proportion of time deposits. This is a challenge for Busan Bank, which has already seen a decline in its liquidity ratio to 12.5% as of 31 March, from 14.9% at the end of 2021.

The loan-to-deposit ratio remained high at nearly 100% as of 31 March, indicating that Busan Bank is heavily reliant on loans.

Busan Bank has a partnership with Lotte Group, owning 13.6% of the BNK Financial Group's stake, and Lotte PS Net. This partnership allows customers to use Lotte ATMs installed nationwide at 7-Eleven, Lotte Mart, and Lotte Department Stores, paying only Busan Bank's commission.

You can find these Lotte ATMs in various locations, making banking more convenient for customers.

In 2016, Busan Bank introduced a smart ATM, making banking services more accessible and efficient.

After BS Financial Group took over Kyongnam Bank in 2014, Kyongnam Bank customers can use Lotte ATMs located at South Gyeongsang Province and Ulsan Metropolitan City starting from January 18, 2016.

Busan Bank launched fintech mobile non-face-to-face financial service, SUM bank, a joint venture with Lotte Group.

The SUM bank mobile bank book can only be signed up using the SUM bank app, making it easy for customers to access their banking services.

In February 2020, SUM bank added BC Cards to its services, providing customers with more options.

The existing SUM bank Lotte Cards were discontinued on March 1, 2020, and there is no issuance fee for the SUM bank affiliated BC Check Card.