Douzone Bizon: To Become the Fourth Internet Bank in Korea?
On 4 April, Douzone Bizon (012510 KS) announced that it plans to become the fourth Internet bank in Korea. Following this news, Douzone Bizon's share price increased by 21%.
If the company succeeds in receiving the license to operate an Internet bank, this could meaningfully impact the company's long-term sales and profits.
If Douzone Bizone expands into the Internet banking services, it may need additional backing from strategic/financial partners including Bain Capital which has a 10.2% stake in Douzone Bizon.
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