Citibank Korea applies to form holding company

SEOUL Aug 28 (Reuters) - Citibank Korea Inc. said on Friday it has applied to South Korean authorities to establish a financial holding company, hoping to launch it by the end of the year.

Hong Kong- and London-listed Standard Chartered (STAN.L) (2888.HK) won approval to do so in June and has already launched a holding company.

The holding company will comprise three subsidiaries including Citibank Korea Inc. (CKI), Citigroup Capital Korea Inc. (CCKI), Citi Financial Sales Korea Inc. (CFSK); and one sub-subsidiary, Citi Credit Service Co., Ltd. (CCS) under CKI.

(Reporting by Marie-France Han; Editing by Jonathan Thatcher)