SEOUL, Aug. 26 (Korea Bizwire) – Korean financial regulators will set up guidelines allowing brokerage firms in Korea, including branches of foreign companies, to sell overseas financial products like foreign bonds to local institutional investors together with foreign partners. The Financial Supervisory Service announced on August 25 that it had prepared such guidelines, and will make [...]
SEOUL, Aug. 26 (Korea Bizwire) – South Korea’s leading online shopping site Interpark said Wednesday it has joined forces with the nation’s top mobile carrier and several other firms to win regulatory approval for running an Internet-only bank. Interpark said its consortium includes SK Telecom, the state-run Industrial Bank of Korea, GS Home Shopping and four [...]
Financial Results Highlights: Third Quarter 2015 Compared with Third Quarter 2014: - Net income of $1,192 million, up 6%; adjusted net income(1) of $1,230 million, up 6% - EPS(2) of $1.80, up 8%; adjusted EPS(1,2) of $1.86, up 8% - ROE of 13.6%, compared with 14.4%; adjusted ROE(1) of 14.0%, compared with 14.9% - Provisions [...]
TORONTO, ONTARIO, August 25 (Korea Bizwire) – Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced that the Board of Directors declared a quarterly dividend of $0.82 per share on paid-up common shares of Bank of Montreal for the fourth quarter of fiscal year 2015, unchanged from the previous quarter. The Board of Directors also [...]
SEOUL, Aug. 25 (Korea Bizwire) – As many large firms have been aggressively repaying their debts, bank loans to large companies dropped to a 10-month low in July. Unlike the increase in the number of bank loans to SMEs, large companies are turning to direct financing channels including bonds, commercial paper (CP) and stock issuance. According [...]
SEOUL, Aug. 18 (Korea Bizwire) – In Pangyo, a southern suburb of Seoul that is sometimes called the Korean Silicon Valley, a famous Israeli venture capital firm will open a startup support center to help Korean startups tap into global markets. According to the Ministry of Science, ICT and Future Planning, Yozma Group, the Israeli [...]
SEOUL, Aug. 17 (Korea Bizwire) - Bank Wallet Kakao (Banka), the mobile financial service of KakaoTalk, will increase their charge and wire transfer limits during the next month. According to the Financial Supervisory Service (FSS), 17 domestic banks and the Korea Post have partnered with Banka. All 18 members of the alliance are rewriting the [...]
SEOUL, Aug. 18 (Korea Bizwire) — Hybrid funds with a mixed portfolio of stocks and bonds have been absorbing money as investors prefer relatively safe vehicles with higher yields over fixed deposits that offer record-low interest payments, data showed Tuesday. Investors have added a net 4.23 trillion won (US$3.58 billion) into the hybrid funds as [...]
SEOUL, Aug. 17 (Korea Bizwire) – In the first half of the year, insurance companies in Korea made net profits of 4.5 trillion won, powered by a surge in one-time profits such as sales of equities. According to the Financial Supervisory Service (FSS) on August 16, the combined net income of 39 insurance firms in Korea [...]
SEOUL, Aug. 16 (Korea Bizwire) — Large South Korean companies have sent more than US$400 billion to offshore tax havens over the past eight years, with nearly 40 percent of the amount yet to be returned home, data showed Sunday. According to the data by the Bank of Korea and other government agencies, local big firms remitted [...]