Korea
Massive job cut leads to KB Financial Q4 loss
KB Financial Group swung to a loss in the fourth quarter from a year earlier due to a massive one-off charge for its job-cut program.
Massive job cut leads to KB Financial Q4 loss
KB Financial Group swung to a loss in the fourth quarter from a year earlier due to a massive one-off charge for its job-cut program.
KT to acquire 20% of BC Card from Woori
KT seeks to take advantage of increasing use of mobile devices for payments, whose transactions amount to $37.4bn.
Korea Eximbank needs to increase capital
The new head of South Korea's state-run trade bank on Wednesday stressed the need to increase the bank's capital in a bid to beef up its capacity to secure overseas projects.
Korea's credit card loans jump 38% in 2010
Loans extended by South Korean credit card companies surged in 2010 as they beefed up cash lending to offset falling earnings from credit purchases.
Shinhan fourth quarter profit down 44% to $328mn
The lender still on hunt for CEO as acting Chair and CEO Ryoo Shee-yul is not included on the list.
Shinhan Financial's Q4 net up 42.2%
Shinhan Financial Group's net income stood at US$329.9 million for the October-December period. Compared with with the US$232 million for the same period in 2009, this is a 42.2 per cent increase.
KEB Q4 net falls 22.8 %
Korea Exchange Bank's earnings sank 22.8 percent in the fourth quarter from a year earlier due to a non-interest loss and rising costs.
Hana nears completion of funding for KEB acquisition
Hana’s KEB takeover is still subject for Korea’s financial regulator’s approval.
Korea Exchange Bank union warns of strike
Workers plans to stop takeover by Hana as it will probably implement a massive reorganization that involves downsizing.
Bank of Korea likely to proceed with policy normalisation
With inflation continuing to inch higher towards the pre-crises level, BOK is expected to proceed with its policy normalisation.
Woori, Shinhan, Hana bid for Samwha Mutual Savings
Korea’s regulator suspended Samwha’s operations for six months, after it failed to meet capital requirement levels.
Woori Bank raises $610mn Samurai bonds
The lender issued three tranches of yen denominated bonds maturing in one year, 18 months and two years.
Kookmin to sell $147.42mn stake to POSCO
KB Financial is seen to engage in share exchange deals with two or three Korean conglomerates.
Hana Bank to pare down bad-loan ratio
The lender targets 20% profit rise as it expects economy to be stable this year.
KB Financial to divest 11.2% stake by September
3 to 4 per cent stake to be sold to foreign investors through a block sale and the remaining shares to three to four foreign institutional investors.
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