SEOUL, March 27 (Korea Bizwire) — Overseas branches of South Korean banks saw their combined net profit rise 23.9 percent on-year to US$807 million in 2017, thanks to a decline in loan-loss provisions, government data showed Tuesday. The total accounted for 7.7 percent of the combined net profit of banks operating in South Korea last [...]
SEOUL, Nov. 23 (Korea Bizwire) – Loans extended to local businesses rose slightly in the July-September period from a quarter earlier on increased operating expenses and facility investments, central bank data showed Thursday. Outstanding corporate loans came to 1,036.6 trillion won (US$952 billion) in the third quarter, up 2 percent from the preceding three months, according to data compiled by the Bank of Korea (BOK). In terms of [...]
SEOUL, Aug. 2 (Korea Bizwire) – South Korea’s top financial regulator on Wednesday urged banks and other financial institutions to tighten screenings of applications for home mortgages in a move to block speculative demand for homes before the government’s stricter lending rules go into force. Financial Services Commission (FSC) Chairman Choi Jong-ku made the remarks at [...]