South Korea
KB Financial registers 2.5% growth in Q1 earnings
KB Financial registers 2.5% growth in Q1 earnings
Net profits totalled ₩1.50t in the January to March period.
Steady margins will push Daegu Bank to stable profits in 2023
The bank’s dividend payouts will remain at current levels of 40% to 50%, Moody’s reported.
South Korea’s central bank unveils system for verifying AI use in credit scoring
Credit bureaus will be supervised under this new verification system.
Shinhan Bank and E9Pay team up for overseas payment platform
The payment system will cater toward foreigners residing in South Korea.
South Korea’s K-Bank quadruples net income in 2022: report
The neobank now has 8.49 million customers.
South Korean bank deposits up by KRW22.3t in February
Transferable deposits rose by KRW21.4t during the month.
Korean banks' household loans extend decline whilst corporate loans slow
Loans extended to local SMEs rose rapidly in February.
South Korea’s chief financial regulator urges banks to reduce interest income dependence: report
Lee Bok-hyun said the FSS is looking for ways to encourage lenders to diversify income streams.
South Korea reviews allowing insurers to conduct banking operations
A task force was formed to look into this.
Korean banks' plan to boost shareholder returns won't affect profits
The regulator is expected to stop any excessive payments.
Korean banks’ bad loans ratio up 0.02ppt in November
Ratio reflects loans overdue by at least one month.
Payment cards account for 60.9% of e-commerce purchases in South Korea
Added-value benefits of using cards help maintain its dominance.
Banks in South Korea to maintain eased stance in extending loans: report
Increased lending capacity and intensifying competition encourage banks.
South Korea’s household lending rate soars to highest in 10 years: report
The household lending rate hit 5.57% per annum on average in November.
South Korea’s credit card payments market to be worth $890b in 2026
In the near term, rising interest rates may discourage card use.
Sound underwriting shields South Korean banks’ from housing market downturn: Fitch
Unsecured personal loans and small business loans are bigger risks.
Kakao Bank, Kakao Pay shares tumble as fire disrupts services: report
All services under Kakao were severely affected by the data center fire.
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