KB Kookmin Bank pledged to reinforce sincere business activities in a bid to regain customer confidence by eliminating practices with ethical breach.

The commercial bank said Wednesday that it has formed a task force aimed at enhancing social responsibility, ethical management and customer-oriented business.

The bank mapped out the new business policy after being criticized by the public when irregularities involving fabrication of its loan screening documents were revealed in the financial market.

In a joint statement, the bank’s CEO Min Byong-deok and other executives said they would “push ahead with recovering confidence and strengthening (their) social role as financiers who take care of customers’ assets.”

The bank said it will also increase the number of employees in the consumer protection division from 17 to 30.

KB Kookmin admitted to rigging loan documents, signaling a further blow to its reputation already undermined by antitrust regulators’ probe into major banks for interest rate-fixing allegations.

Police launched a probe after about 30 people filed a suit against the bank for allegedly forging loan contract papers.

Meanwhile, KB Kookmin recently made a joint management-labor pledge, announcing a management policy of working together to tackle pending issues and push for reforms.

A spokesman said the joint announcement was signed after months of discussions to find ways to improve the bank’s overall competitiveness.

According to the joint pledge, both management and the labor union will join forces based on mutual trust and cooperation to push for the growth of the bank and improve the quality of life for workers.

In addition, both parties will increase efforts in corporate social responsibility to boost the bank’s role in the local community and enhance internal communication to nurture new labor-management relations.

By Kim Yon-se (kys@heraldcorp.com)