KoreaTimes(126) - Banks, Finance, page 8

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Finance

Banks

Thu, October 21, 2021 | 07:45

Banking groups on alert over hawkish regulators

Korea's banking groups are on growing alert over the newly appointed chiefs of local financial regulators, who have been sending repeated signals of adopting principle-based regulations.

2021-08-09 16:56

KakaoBank becomes 12th-largest market cap company on KOSPI

KakaoBank was listed on the KOSPI, Friday, in one of most expected IPOs of the year, and ended the day with a positive performance. The internet-only bank's initial price was set at 53,700 won at the beginning of Friday's session, 37.7 percent higher than the offering price of 39,000 won. Despite failing to reach its maximum possible start - a 200 percent jump - the stock con...

Anna J. Park | 2021-08-06 17:06

Bankers disappearing amid full-scale digitization

The number of bank branches in the country is decreasing swiftly due mainly to accelerated digitization of banking services, and resultantly the number of bankers voluntarily leaving the country's five major banks during the first half of this year stood at over 2,600 - around one third of the entire number of bankers who have left the industry over the past decade.

Anna J. Park | 2021-08-05 16:15

Record FX reserve helps to offset external risks

A further increase in foreign exchange reserves in July continued to help assure Korea's economic stability against external risks, especially in the wake of the fourth wave of COVID-19 infections, according to analysts, Wednesday.

2021-08-04 16:54

K bank reports first-ever quarterly profit

K bank is on track to improve its financial fundamentals ahead of its planned initial public offering (IPO) possibly set for 2023 at the earliest. The internet-only bank achieved its first quarterly profit in the April-June period since it was launched in 2017.

2021-08-03 16:45

Banks shuttering branches despite FSS warnings

Major banks plan to reduce the number of branches by at least 100 in the second half of this year, despite recommendations from the Financial Supervisory Service (FSS) against doing so.

2021-07-31 09:20

Top 4 Korean banks receive favorable reviews from Fitch

Fitch Ratings revised its outlooks on the long-term issuer default ratings (IDRs) of Shinhan and KB Kookmin banks to “stable” from “negative,” while upgrading the long-term IDRs of Hana and Woori banks to “A” from “A-,” after all of the holding companies of the lenders announced record-high half-yearly earnings this month.

2021-07-30 16:20

Moody's upgrades ratings outlook on Jeonbuk, Gwangju banks

Moody's Investors Service has left unchanged its A3 credit ratings on JB Financial Group's two banking affiliates - Jeonbuk Bank and Gwangju Bank - and revised up its outlook for the banks to “positive” from “stable.”

2021-07-29 15:28

KakaoBank's IPO craze contradicts shaky corporate valuation

For the first-time ever, a local securities company issued a “sell” recommendation for shares being newly offered through an initial public offering. Despite generating a huge buzz among investors, KakaoBank set the humiliating record, becoming the country's first IPO stock to receive the unprecedented “sell” opinion due to its offering price being overpriced, according to th...

Anna J. Park | 2021-07-29 08:21

Promoting digitization

The avatars of NongHyup Financial Group Chairman Son Byung-hwan, center with thumb raised, and the firm's young employees pose for a photo on Zepeto, a “metaverse” platform operated by Naver Z, after a meeting held to foster digitalization at the group's headquarters in Seoul, Wednesday. Yonhap

2021-07-28 15:23

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