Kookmin planning to remove credit cards from pool
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Covered Bonds

Kookmin planning to remove credit cards from pool

Kookmin Bank has hit a roadblock in a plan to spin off its credit card business: around $2bn of its credit card assets are tied up as collateral backing a $1bn (Eu717m) covered bond. The bank will now approach investors for permission to radically alter the collateral backing the deal, The Cover understands.

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