Display repair equipment company Charm Engineering has collected 5.15 billion won in cash dividends from subsidiary Charm Savings Bank, the company said on Friday.
Earlier in June, Charm Engineering has said it has secured additional shares of its banking subsidiary.
Currently, the company has an 85.82% stake in the bank __ it bought 36.1% stake that was auctioned by authorities that confiscated it from an ex-executive for delayed tax payments.
Charm Engineering acquired the bank back in 2006. The bank is based in Daegu its clients are mostly local small- to medium-sized businesses.
A Charm Engineering spokesperson said its subsidiary posts 6 billion won to 7 billion won in net profit every year and will help with its own liquidity going forward.
