Korea
Woori Finance net profit down by 50.6 %
Woori's first-quarter earnings fell by 50.6 per cent from a year earlier on an absence of one-off gains.
Woori Finance net profit down by 50.6 %
Woori's first-quarter earnings fell by 50.6 per cent from a year earlier on an absence of one-off gains.
KB Financial net up 23.3%
KB Financial Group's first-quarter earnings rose 23.3 percent from 2010. This is due to improved interest margin and a fall in loan-loss reserves.
IBK's first quarter earnings up 50.7%
Industrial Bank of Korea's first-quarter earnings jumped 50.7 percent from last year. The bank ascribes the growth to increased interest income and lower loan-loss reserves.
Korea regulator may decline approval of Hana-KEB deal
Doubts on the merger surface as Financial Services Commission is reviewing whether Lone Star Funds is qualified to be Korea Exchange Bank's largest shareholder.
Korea to intensify credit card supervision
South Korea's Financial Supervisory Service is tightening supervision of credit card companies on worries that their easy loans may lead to default crises.
Decision over KEB buyout delayed till May
The South Korean financial regulator's decision over the eligibility of Lone Star Funds as the biggest shareholder of a local bank may get delayed till next month.
South Korea regulator urges banks to support builders in trouble
Major banks have been blamed for magnifying builders' problems by refusing to roll over maturing loans or forcing them to repay their loans.
Korea to start imposing bank levy on foreign borrowing
South Korea plans to impose a levy on banks' foreign borrowing starting in August.
Hana Financial profit down 2.6%
Hana Financial Group's first-quarter earnings declined 2.6 percent from a year earlier due to decreased interest income.
BS Financial eyes savings bank business
BS Financial Group is considering breaking into the savings bank sector in a bid to expand its business portfolio.
KEB offers wide range of services for expatriates
The lender boasts of its Easy-one Foreign Exchange Transaction Service that aims to eliminate as many banking inconveniences.
Kookmin Bank poised to achieve pre-crisis profits in 2011
Costs incurred from massive job cuts and other factors cut down the lender’s profit to $10mn last year compared with $2.49bn in 2007.
StanChart’s Korea Unit to maintain paying dividends
Despite 27 branch closures in 2011, the lender still has no plans to pull out of South Korea.
South Korea financial watchdog cautions on heated competition
The FSS advised South Korean banks to step up overseas expansion as local market is already saturated.
Woori Bank raises $500M through subordinated bonds
Woori Bank has raised US$500 million through dollar-denominated subordinated bonds.
Korea to keep banks from inflating assets
South Korea's Financial Supervisory Service will restrain local banks' attempts to excessively inflate assets. This is part of banks' startegy to maintain their financial health.
South Korea may initiate Daewoo Securities-Woori Investment merger
The merger eyed jumpstart succeeding alliances in brokerages as the industry suffers lack of global competitiveness.
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