SEOUL, March 27 (Korea Bizwire) — Foreign bank branches in South Korea continued to enjoy a rise in their net profit last year as a sharp increase in their gains from trading of foreign currencies and derivatives more than offset a decline in their interest income, data showed Thursday. The combined net profit of 32 [...]
SEOUL, May 23 (Korea Bizwire) — Foreign bank branches in South Korea saw their combined net profit down 4.5 percent in 2021 due to a rise in securities-linked losses amid market downswings, data showed Monday. The combined net income of 35 foreign lenders’ local branches stood at 1.15 trillion won (US$904.4 million) in the fiscal [...]
SEOUL, Sept. 4 (Korea Bizwire) — The head of South Korea’s top financial regulator pledged Friday to lower entry barriers for foreign banks seeking to tap into the local market. “To encourage financial companies to tap into other countries, each country must work to increase the conformity of their local rules with international norms,” Financial [...]