SEOUL, Mar. 11 (Korea Bizwire) — Loans extended by South Korean banks to companies using their high-level technologies as collateral have soared 70-fold in the past seven months on a strong drive by the government, industry data showed Wednesday, spawning concerns that a huge chunk of such loans could turn sour, thus undermining lenders’ financial [...]
SEOUL, March 11 (Korea Bizwire) – Household loan growth at South Korean banks more than doubled in February from a month earlier on robust property transactions and solid demand for loans amid low interest rates, central bank data showed Wednesday. Household loans, which include mortgage lending, extended by local lenders reached 566 trillion won (US$503 [...]
TORONTO, ONTARIO, Mar. 6 (Korea Bizwire) – BMO Financial Group (TSX: BMO)(NYSE: BMO) today announced that it has mailed its 2015 Notice of Annual Meeting of Shareholders and Management Proxy Circular to common shareholders of Bank of Montreal. BMO’s Annual Meeting of Shareholders will be held at the BMO Institute For Learning, in Toronto, on [...]
SEOUL, Mar. 5 (Korea Bizwire) — Shinhan Card has introduced a ‘Self FDS (Fraud Detection System)’ service available in overseas countries for the first time among Korean banks, said the company on March 4. The current FDS service employed by Shinhan Card was conducted by a pattern analyzing program which detects any abnormalities based on accumulated transaction data. [...]
SEOUL, Mar. 4 (Korea Bizwire) — Daishin Asset Management has announced the launch of its UBP Asia Consumer Fund, which will specialize in retail and consumer sectors targeting women, Chinese tourists, and customers looking for unisex goods, in collaboration with Swiss private bank UBP’s research analysts. The UBP Asia Consumer Fund’s portfolio will be composed of domestic [...]
SEOUL, Feb. 26 (Korea Bizwire) – A special bank has been set up to lend money to poor criminals who are fined but have to endure prison labor because they have no money to pay the penalties. Citizens’ Solidarity for Human Rights announced on February 26 that it established the “Jean Valjean Bank” to help [...]
TORONTO, ONTARIO, Feb. 24 (Korea Bizwire) – Bank of Montreal (TSX: BMO)(NYSE: BMO) today announced that the Board of Directors declared a quarterly dividend of $0.80 per share on paid-up common shares of Bank of Montreal for the second quarter of fiscal year 2015, unchanged from the previous quarter. The Board of Directors also declared [...]
Financial Results Highlights: First Quarter 2015 Compared with First Quarter 2014: - Net income of $1.0 billion, down 6%; adjusted net income(1) of $1,041 million, down 4% - EPS(2) of $1.46, down 8%; adjusted EPS(1,2) of $1.53, down 5% - ROE of 11.8%, compared with 14.2%; adjusted ROE(1) of 12.3%, compared with 14.5% - Provisions [...]
SEOUL, Feb. 18 (Korea Bizwire) — Kwang Ju Bank, a local bank in Gwangju in South Jeolla province, is growing a strong customer base through a newly introduced mobile banking desk. The mobile offices have been installed on a remodeled 16-ton truck, outfitted with three counseling stalls and two ATMs. The ATMs were specifically arranged to be [...]
SEOUL, Feb. 18 (Korea Bizwire) — Chinese money is entering the Korean insurance market for the first time in its history. Anbang Insurance Group finalized a 1.13 trillion won (US$ 1.01 billion) takeover of Korea’s Tongyang Life on February 16, according to reports from the Korean finance industry. The Chinese company agreed to take a combined 63 [...]