South Korea
Korean banks to ease lending standards for companies and mortgages
But banks are expected to tighten lending standards for household loans.
1 day ago
Korean banks to ease lending standards for companies and mortgages
But banks are expected to tighten lending standards for household loans.
1 day ago
Korean banks’ household loans drops in March as mortgage demand slows
In contrast, bank lending to the corporate sector increased by over KRW10t.
Transferable deposits drive South Korean banks’ deposit growth in March
Banks hold an outstanding KRW2.36t in deposits as of end-March.
Korean banks began compensating investors for HK ELS-linked losses
Shinhan Bank and Hana Bank have begun compensating customers.
BOK joins project exploring use of tokenisation to improve cross-border payments
Seven other central banks globally have joined the project.
Average interest rates of new bank deposits in South Korea declines
Interest rates of new loans are also lower in February.
South Korean banks’ bad loans climb 0.47% in December
This reflects a significant increase compared to the previous year.
Foreign banks’ Korean earnings up 6% on higher securities income
The net interest margin declined from 0.75% to 0.63%, according to official data.
Korea’s credit finance companies’ net income 20.7% lower in 2023
Total revenues rose, but so did expenses and bad loans coverage.
South Korean credit card firms report $1.93b net income for 2023
Total revenue and expenses rose during the period.
South Korean domestic banks’ earnings rose 15% in 2023
Banks are bracing for more bad loans and raised their allowance for bad debts.
ELS-related losses to reduce Koreans’ operating profits by up to 34%: Fitch
Banks are believed to have accounted for 82% of $14.4b in ELS sales in 2023.
11 South Korean financial firms found violating rules in selling HK-tied securities
Authorities will soon issue a guideline for the firms to compensate investors.
Expected gov’t support to prop up the Industrial Bank of Korea’s solvency: analyst
Exposure to the property sector remains small and does not pose material risk.
South Korea’s interest rates for new deposits, loans fall in January
Average interest rate for new loans taken by large firms dropped 12 basis points.
South Koreans’ card spending up 32% to $19.22b in 2023: report
The number of Koreans who traveled overseas tripled in 2023.
South Korean banks’ lending to companies up in January
This was due to season factors.
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