(LEAD) Citibank Korea signs retail loan refinancing scheme with KB Kookmin, Toss

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SEOUL, June 22 (Yonhap) -- Citibank Korea Inc., the Korean unit of U.S. banking giant Citigroup, said Wednesday it signed agreements with KB Koomin Bank and Toss Bank to help its individual customers refinance their loans after winding down its retail banking sector.

Citibank Korea closed all new sign-ups for retail banking and financial services on Feb. 15 this year and is set to reduce its existing retail banking services in phases.

Starting July 1, Citibank Korea will run a loan refinancing plan for its existing retail banking customers.

The refinancing plan does not apply to mortgage loans, the lender said.

Its retail customers can refinance their loans with KB Kookmin Bank and internet-only Toss Bank at lower interest rates, according to Citibank Korea.

jwc@yna.co.kr
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