State-owned Korea Development Bank has made a proposal to acquire 25 percent of U.S. investment bank Lehman Brothers for as much as $5.3 billion, a newspaper reported Wednesday.

Korea's largest lender Kookmin Bank completed the acquisition of a 23 percent stake in Kazakhstan's CenterCredit for $500 million, the Almaty-based bank said Wednesday.

Kookmin Bank, South Korea's top commercial lender, won support from shareholders Monday for its planned transformation into a holding company, removing a hurdle to its expansion drive and pushing its shares 3% higher.