Korea Development Bank (KDB) is a state¬owned bank founded in 1954. KDB provides a broad range of financial services and products through a network of over 40 local branches, 8 overseas branches, 5 overseas subsidiaries and 7 representative offices. Corporate banking has been KDB's primary business area since its establishment in 1954. Over the past five decades, KDB has provided huge amounts of industrial capital through traditional banking services like loans, investments, and guarantees to help develop Korea's industries and the national economy. Korea Development Bank, the nation's largest state policy lender, officially started its privatization process in October 2009. Korea Development Bank operates as a subsidiary of KDB Financial Group. As of December 31, 2014, the company had consolidated total assets of KRW 277.278 trillion and loans of KRW 143.484 trillion.