Kyobo Life Insurance acquires 50% of SBI Savings Bank for KRW 900.1bn
- Deal value
- $621m
- Stake
- 50%
- Implied 100%
- $1.2bn
- Revenue
- $1.0bn
- Op. income
- —
- Multiples
- PSR 1.2x
Deal value ÷ stake (structure unconfirmed)
2025 별도 · DART-verified
2025 별도 · DART-verified
On implied equity value
DART 20260528000368
- Target
- SBI Savings Bank · Savings bank
- Buyer
- Kyobo Life Insurance · SI
- Seller
- SBI Holdings
- Structure
- —
- Announced
- Apr 28, 2025
- Closed
- Apr 6, 2026
- Stage
- Closed
Target
SBI Savings Bank is Korea's largest savings bank by assets, with total assets of KRW 14.0289 trillion, equity of KRW 1.8995 trillion and 1.72 million customers at end-2024, and operates the digital bank 'Cider Bank'. Net income was KRW 80.8 billion in 2024.
Deal rationale
Kyobo Life said it is acquiring SBI Holdings' stake in two steps (30% in H2 2025, 50%+1 share by October 2026) to diversify its business portfolio and accelerate its conversion to a financial holding company. It plans to combine insurance and savings banking, refer insurance customers declined for loans to the bank (expanding household lending by over KRW 1.6 trillion), and retain current management. The FSC approved the change of major shareholder on 18 March 2026.
| Revenue | $1.0bn |
| Operating income | — |
| EBITDA | — |
| Net income | — |
2025 별도 · DART-verified · 20260528000368
Press coverage
- 한국경제 (2025-04-28): “교보생명은 28일 이사회를 열어 SBI홀딩스가 보유한 SBI저축은행 지분 50%+1주를 내년 10월까지 단계적으로 인수하기로 결의했다고 밝혔다.”
- 비즈니스워치 (2026-03-18): “인수 금액은 약 9000억원 규모다.”
- 헤럴드경제 (2026-03-16): “SBI저축은행 1차 인수대금 3000억원도 이미 집행을 마쳤다.”
- 마이데일리 (2026-09-02): “교보생명은 일본 SBI홀딩스가 보유한 SBI저축은행 지분 50%와 1주를 약 9000억원에 인수했다.”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.