KB Financial Group has narrowed down the list of candidates in the bid for its chairman post.

Following a related committee meeting on Thursday, four former financial executives were placed on a shortlist, KB officials confirmed on Friday.

Of the four candidates, only one ― Citigroup chairman and Citibank CEO Ha Yung-ku ― was from outside of the group. 

The remaining three insiders were: former KB Financial Group chief financial officer Yoon Jong-kyu, former KB Kookmin Card vice president Ji Dong-hyun and former KB Kookmin Bank senior executive vice president Kim Ki-hong.

“When KB announced the first batch of candidates earlier this month, former or current KB officials were considered as the most promising candidates,” an industry source told The Korea Herald.

Initially, former vice chairman of Shinhan Investment Corp. Lee Dong-gul had been considered as a strong alternative for Ha of Citibank who had faced fire for his decision to run before quitting Citibank.

With the latest decision, industry watchers are saying that Ha may now have a bigger shot at becoming the chairman of the nation’s second-largest banking group by assets.

Ha’s close connection with Financial Services Commission chairman Shin Je-yoon and other high-ranking officials may be appealing for KB, which is reeling in the aftermath of the watchdog’s sanctions. It is now desperately seeking to regain the trust of the public and authorities.

KB Financial will conduct in depth interviews with the four candidates next week before making a final announcement, a KB spokesman said.

By Suk Gee-hyun (monicasuk@heraldcorp.com)