South Korea
South Korean banks’ bad loans climb 0.47% in December
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.
South Korea’s household lending accelerates in January
However, there was a fall in housing sale transactions in the past month.
South Korea’s major banks saw average lending rate fall in January
This is the second consecutive month of decline.
Korean financial regulator vows to fight contagion risks from property financing: report
Lee called these real estate PF risks a “detonator” of the South Korean economy.
Korea’s Woori Financial Group logs 19% lower net income in 2023
Dividend income was 50% higher, however.
Citi Korea to enjoy strong capitalisation, stable credit profile through 2025: Moody’s
The bank’s winding down of its consumer banking business is a positive.
KakaoBank expands AI research at ICN10 data centre
Digital Realty's ICN10 data centre was selected for its optimized AI deployments.
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The financial institution emerged as the recipient of the Green Deal of the Year - China and Green Deal of the Year - Singapore awards.
