Providing Comprehensive Wealth Management Solutions
IBK continues to enhance its customer-tailored wealth management services based on differentiated financial solutions. It has established a comprehensive wealth management system that combines financial and non-financial services, developed professional personnel, and promoted digital innovation to realize sustainable financial services.
Establishing a Customer-Centric Wealth Management Strategy
IBK has introduced a customer-tailored asset allocation strategy based on the IBK House View to enhance face-to-face consulting, establish a financial consumer protection system, and prevent incomplete sales.
The IBK House View operates as an asset allocation strategy council in collaboration with IBK Securities to derive IBK's unique and consistent market outlook and provide differentiated wealth management services.
Wealth Management Professionals Training and VIP Consulting Services
IBK pursues customer-tailored wealth management innovations in response to changes in the financial market. Starting from July 2024, IBK has provided comprehensive wealth management consulting, including finance, taxation, real estate, corporate succession, IPO, retirement pension, and M&A, to top-tier corporate clients with total deposits exceeding KRW 10 billion. Through this, it supports SME CEOs and corporate clients in establishing long-term financial strategies and managing their assets efficiently.
IBK also operates systematic education and training programs to nurture the next generation of wealth management experts. In 2024, the bank selected 5 “Young Star PBs” (senior) and 17 “Super Rookie WMs” (staff) to foster young and talented financial experts at an early stage, thereby strengthening IBK's wealth management capabilities. IBK has also expanded differentiated services for its VIP clients. It offers high-quality cultural programs, such as the WIN CLASS Customer Love Concert for top VIP clients, to enhance customer satisfaction.
2nd Super Rookie WM (Wealth Manager) Launch Ceremony (May 2024)
Strengthening the Competitiveness of the Wealth Management Business
IBK has expanded customer-centric wealth management services to provide differentiated financial solutions across wealth management, including bancassurance, beneficiary certificates, and trusts.
Bancassurance: Expanding Competitive Products and Establishing a Complete Sales System
IBK is discovering competitive bancassurance products and expanding market share even amidst the adoption of International Financial Reporting Standards (IFRS 17) and regulatory changes. As one example, the bank strengthened the marketing of Dollar Insurance products, achieving an insurance sales commission of KRW 8.5 billion (KRW 600 million including deductible sales commissions).
In September 2024, the bank completed the Bancassurance System Reconstruction, overhauling the outdated system, enhancing operational efficiency, and laying the foundation for the continuous growth of the Bancassurance industry. Meanwhile, the bank introduced a new Yellow Umbrella channel (i-ONE Bank Retail) to expand access to products and enhance customer convenience. Furthermore, it has improved the binding verification process for fire insurance to prevent incomplete sales, and strengthened its consumer protection system by conducting self-mystery shopping inspections.
Mutual Funds: Strengthening Product Strategy Formulation and Post-Management
IBK optimizes its fund product lineup by reflecting customer investment preferences and market trends, and enhances the post-management system to expand customer protection. In 2024, the bank launched 10 new products, including the U.S. Treasury Long-term Fund and High Yield Fund, and streamlined 46 existing products, including the Shin Young Marathon Fund, to build a more competitive portfolio.
Additionally, the bank has expanded the operation of the Fund Post-management System under headquarters' leadership to strengthen financial consumer protection. It has introduced services—such as Fund Care Reports, Fund of the Month Recommendation Review, and Fund Automatic Redemption Account Pre-notice—to offer more systematic investment information to its customers.
To enhance operational efficiency, IBK computerized foreign currency fund settlement operations and introduced an electronic approval process for daily fund closing. Based on these efforts, IBK received a 'Good Rating' in the Financial Supervisory Service's Mystery Shopping Inspection in the second half of 2024, which recognized its thorough management system for investor protection.
Trust: Expansion of Wealth Management Services and Development of Innovative New Products
(Cash Trust)
As of December 2024, IBK’s trust balance recorded KRW 21.8 trillion, with a market share of 13.76% and revenue of KRW 28.96 billion, indicating stable growth. In particular, IBK maintained the No. 1 market share in the short-term financial market share among banks by achieving a balance of KRW 17.9 trillion in the Money Market Trusts (MMTs). Additionally, by expanding the supply of tax-saving products such as financial bonds (approximately KRW 2.2 trillion), it met the tax-saving needs of customers subject to comprehensive financial income taxation.
In the exchange-traded funds (ETFs) sector, despite changes in the external environment such as the introduction of the Financial Investment Income Tax, the bank strengthened product competitiveness by establishing a lineup of 100 ETF products, and maintained stable growth with an ETF trust balance of KRW 100 billion.
(Property Trust)
In January 2024, the establishment of the Property Trust Team and the launch of the IBK My Will Living Trust strengthened inheritance and asset transfer functions. By expanding the business scope to a comprehensive property trust that includes real estate, in addition to the existing cash trust, IBK enhanced its competitiveness in the trust market.
In 2025, IBK plans to expand the assets eligible for inclusion in the living trust products to include securities (such as stocks and physical bonds) to meet the business succession needs of SME CEOs. In addition, the bank will maximize non-interest income and customer value by launching new MMT products for institutional customers, expanding the ETF lineup, and introducing new Derivative-Linked Bonds (DLB) or Equity-Linked Bonds (ELB).
Launch of IBK My Will Living Trust (May 2024)