Korea

The banking sector suffered the most among financial firms on account of irregularities caused by employees, reports Yonhap News.

The alliance will enable the South Korean lender to issue covered bonds.

Hyundai Oilbank, South Korea's smallest crude oil refiner, has narrowed down a group of banks to handle its up to $2 billion IPO planned for early next year.

Hana shares soared on speculation that its takeover of KEB will progress as court proceedings seen to end.

The South Korean lender targets expanding its sales activity in South America through its Spanish partner.

Hana said to have cut the agreed purchase price as KEB shares have fell sharply since the transaction was agreed..

The possible takeover will augment to KDB's flagship businesses: investment banking and corporate financing as HSBC downsizes retail business.

The company eyes selling 66.74mn new common shares at $7.70 each.

Hana awaits South Korea financial regulator’s next move, which may include orderingLone Star to sell most of its 51 percent stake.

Lone Star Funds may be ordered to sell a majority of stakes in the Korea Exchange Bank unless it meets legal requirements as KEB's top shareholder.

Lenders are trying to increase interest rates on loans while cutting deposits rates.

 South Korean banks' loan delinquency rate rose for the second straight month in August from a month earlier.

Household loans from banks are down in South Korea for the first time in eight months in September as lenders try to curb growing household debt. Kookmin Bank and three other major banks extended household loans amounting to 276.9 trillion won or US$234.9 billion as of Sept. 29, down 91 billion won from the end of August, according to the data. The September report marked the first monthly fall since January, when banks' household loans declined by 474 billion won. The decline in bank home loans came as local banks scurried to curtail household loans, mostly credit loans, in a bid to meet an advised target by the Financial Services Commission of a 0.6 percent monthly loan growth. The full story is available at Yonhap News.

The move is part of lender’s worldwide restructuring plan which includes sale of its U.S. credit card and retail services.

Thed suspension of ailing savings banks stirred investors to seek safer financial institutions inn Korea resulting to an increase in news deposits reports Yonhap News.

The creation of Woori Card follows similar moves by the lender’s rivals.