Oh Eun-sun Staff writer, Finance News Desk

Total articles(84)
KakaoBank leads group savings accounts in South Korea with 8.4 trillion won balance
Internet-only banks, which have been dominating group savings accounts, are faced with challenges from commercial banks. Through group savings accounts, banks can not only increase customer loyalty but also secure a portion of the declining deposits. However, there are concerns that it will not be e...
Lotte Insurance sells 100 billion won bridge loan for Palace 73 amid debt concerns
Lotte Insurance has sold 100 billion won of its senior bridge loan for the high-end dwellings 'The Palace 73' located in Banpo-dong, Seocho-gu, Seoul. Senior loans have lower interest rates and are relatively safer as they allow creditors to recover money before others. Nevertheless, it appears that...
Woori Bank employees ignored loan fraud warning signs for four years
During the four years of the 780 billion won loan fraud incident involving former Woori Financial Group Chairman Son Tae-seung, Woori Bank employees confirmed they were aware of the related loans but did not file internal reports. According to current regulatory guidelines and self-regulation, finan...
Financial holding companies face stock price decline as CET1 ratios drop
The share prices of financial holding companies are struggling despite large-scale shareholder return measures due to a decline in the common equity tier 1 (CET1) ratio. The CET1 ratio is the value obtained by dividing common equity capital by risk-weighted assets (RWA). It is an indicator showing h...
Regional financial groups face intensified competition from banks and internet lenders
The regional financial groups recorded unprecedented results last year, but they are expected to face deeper concerns this year. This is because the position of regional banks is anticipated to narrow due to the aggressive lending operations of commercial banks and the upcoming launch of the fourth ...
Bitcoin and Ripple rise as U.S. stock market rallies despite tariff fears
As the U.S. stock market rallies, cryptocurrency prices are rising uniformly. As of 7:30 a.m. on the 11th, Bitcoin is recorded at $97,492, up 1.87% from 24 hours ago on CoinMarketCap, a global coin market tracking site. Ethereum, the second-largest by market capitalization, is also trading at $2,670...
Korean banks earn record 34 trillion won in interest despite reduced margins
The four major banks (KB Kookmin, Shinhan, Hana, Woori) generated over 34 trillion won in interest income last year. KB Kookmin Bank alone earned more than 10 trillion won from interest. The unprecedented profits were achieved despite a drop in net interest margin (NIM) due to a surge in loan demand...
DGB Financial Group reports 220.8 billion won profit, down 43.1% amid challenges
DGB Financial Group announced on the 7th that it recorded a net profit of 220.8 billion won for the fiscal year 2024 attributable to shareholders. This figure represents a 43.1% decrease compared to the previous period, and despite a slight increase in bank performance, it is analyzed that the incre...
Banks increase provisions to record high amid rising defaults in South Korea
The balance of provisions that the four major banks have accumulated in preparation for insolvency is at its highest level in 8 years. Although banks have been steadily increasing provisions in response to financial authorities' concerns about the deterioration of loan quality due to economic recess...
BNK Financial posts 802.7 billion won net profit, up 25.5% from last year
BNK Financial Group announced on the 6th that its annual net income for the previous year was 802.7 billion won. This marks an increase of 162.9 billion won (25.5%) compared to the same period last year (639.8 billion won). The rise was largely due to increased non-interest income from interest and ...
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