FSC Vice Chairman Jeong Chan-woo delivered a congratulatory speech at “Open Seminar on the Measures to Stimulate Savings Banks’ Relationship Banking”, on March 20, Thursday.
Vice Chairman Jeong emphasized that the savings banks should invest more actively in training ‘Relationship Managers’ specialized in inter-bank relationship banking. Some of the participants raised opinions calling that the government should reduce the its guarantee on large banks’ low-interest loans to develop relationship banking.
He mentioned that the FSC will ease unreasonable regulations that hamper facilitation of savings banks’ relationship banking.
* Relationship banking: A strategy used by banks to enhance their profitability. They accomplish this by cross-selling financial products and services to strengthen their relationships with customers and increase customer loyalty. Relationship banking involves offering customers a broad array of financial products and services including certificates of deposit, safe deposit boxes, insurance, investments, credit cards, loans and business services that go beyond simple checking and savings accounts. (Investopedia)