iM Bank rebrands in Daegu as part of nationwide expansion

iM Bank, formerly known as DGB Daegu Bank, is set to embark on a nationwide expansion with a new name and branding strategy. The decision to rename the bank was made at a shareholders’ meeting in late May, following approval from financial authorities to transition from a regional bank to a commercial one.

This rebranding effort extends beyond just the bank itself. Affiliates of the DGB Financial Group, including HI Investment & Securities, DGB Life Insurance, and HI Asset Management, will also be renamed to align with the iM brand. In total, eight banking and non-banking subsidiaries of the financial group will adopt the new iM branding.

The iM brand originated as a mobile banking division of DGB Daegu Bank in 2015, symbolizing innovation and mobile growth. While there were concerns about using a mobile brand as the main name of a commercial bank, the decision to rebrand reflects the lender’s strategy to strengthen its mobile banking platform and expand nationwide.

By shedding its previous association with Daegu and North Gyeongsang Province, iM Bank aims to establish itself as a mobile-focused commercial bank with a broader reach. The new branding strategy underscores the bank’s commitment to growth beyond its regional origins and towards a more competitive position in the Seoul metropolitan area.

“The move to rebrand as iM Bank represents a strategic shift towards a more inclusive and nationwide approach, aligning with our key growth strategy,” said an official from the bank. “By leveraging the existing iM Bank brand, we are poised to increase our presence and competitiveness in the market,” the official added.