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Finance

Banks

Thu, August 5, 2021 | 11:23

Record FX reserve helps to offset external risks

A further increase in foreign exchange reserves in July continued to help assure Korea's economic stability against external risks, especially in the wake of the fourth wave of COVID-19 infections, according to analysts, Wednesday.

Yi Whan-woo | 2021-08-04 16:54

K bank reports first-ever quarterly profit

K bank is on track to improve its financial fundamentals ahead of its planned initial public offering (IPO) possibly set for 2023 at the earliest. The internet-only bank achieved its first quarterly profit in the April-June period since it was launched in 2017.

Lee Kyung-min | 2021-08-03 16:45

Banks shuttering branches despite FSS warnings

Major banks plan to reduce the number of branches by at least 100 in the second half of this year, despite recommendations from the Financial Supervisory Service (FSS) against doing so.

Lee Kyung-min | 2021-07-31 09:20

Top 4 Korean banks receive favorable reviews from Fitch

Fitch Ratings revised its outlooks on the long-term issuer default ratings (IDRs) of Shinhan and KB Kookmin banks to “stable” from “negative,” while upgrading the long-term IDRs of Hana and Woori banks to “A” from “A-,” after all of the holding companies of the lenders announced record-high half-yearly earnings this month.

Park Jae-hyuk | 2021-07-30 16:20

Moody's upgrades ratings outlook on Jeonbuk, Gwangju banks

Moody's Investors Service has left unchanged its A3 credit ratings on JB Financial Group's two banking affiliates - Jeonbuk Bank and Gwangju Bank - and revised up its outlook for the banks to “positive” from “stable.”

Kim Yoo-chul | 2021-07-29 15:28

KakaoBank's IPO craze contradicts shaky corporate valuation

For the first-time ever, a local securities company issued a “sell” recommendation for shares being newly offered through an initial public offering. Despite generating a huge buzz among investors, KakaoBank set the humiliating record, becoming the country's first IPO stock to receive the unprecedented “sell” opinion due to its offering price being overpriced, according to th...

Anna J. Park | 2021-07-29 08:21

Promoting digitization

The avatars of NongHyup Financial Group Chairman Son Byung-hwan, center with thumb raised, and the firm's young employees pose for a photo on Zepeto, a “metaverse” platform operated by Naver Z, after a meeting held to foster digitalization at the group's headquarters in Seoul, Wednesday. Yonhap

Lee Kyung-min | 2021-07-28 15:23

Shinhan forced to delay quarterly dividend policy

Shinhan Financial Group admitted that it may not be able to pay cash dividends for the third quarter of this year, citing the need to brace for the spread of Delta variant infections in the fourth wave of the COVID-19 pandemic in Korea.

Park Jae-hyuk | 2021-07-28 14:45

KB outperforms Shinhan in H1 earnings

KB Financial Group narrowly outpaced Shinhan Financial Group in its first-half earnings, maintaining its leading status, amid the fierce competition among the nation's major banking groups, all of which posted record-high net incomes during the first six months of 2021.

Park Jae-hyuk | 2021-07-27 17:01

Shinhan Financial Group net soars 43% in Q2

Major South Korean financial holding firm Shinhan Financial Group Co. said Tuesday its net profit jumped more than 43 percent in the second quarter of the year with first-half earnings hitting an all-time high.

2021-07-27 14:10

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