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Finance

Banks

Wed, August 21, 2019 | 05:38

SC Korea forges ties with Bank Salad

SC Bank Korea has signed a memorandum of understanding with Bank Salad, a digital platform operated by Rainist, to boost effective data management, it said Tuesday. Under the agreement, the two will boost efforts to maximize “My Data,” a popular customer service which enables easy management of personal financial data offered to banks, card firms or other financial entities.

Lee Kyung-min | 2019-08-20 17:16

Recognized as premium brand

Shinhan Financial Group chief public relations officer Lee Byeong-cheol, left, holds a trophy with Korean Standard Association Chairman Lee Sang-jin, during the 2019 Korean Standard Premium Brand Index (KS-PBI) awards ceremony at the Lotte Hotel in Seoul, Tuesday. Shinhan Bank won the first prize in the banking sector for the sixth straight year. / Courtesy of Shinhan Bank

Park Jae-hyuk | 2019-08-20 16:15

FSS to inspect sales of controversial derivative products

The Financial Supervisory Service (FSS) said Monday it will launch a comprehensive inspection this month into banks and securities firms over certain derivative products that are set to cause huge losses for investors. They are derivatives-linked securities structured to track the performance of underlying assets such as interest rates and government-issued bond yields.

Kim Bo-eun | 2019-08-19 17:59

Woori, Hana Bank face inspections for mis-selling allegations

The Financial Supervisory Service (FSS) is set to inspect Woori and KEB Hana Bank later this week over suspicions of misselling derivatives linked funds (DLFs) that are expected to incur huge losses for investors. DLFs are comprised of derivatives-linked securities (DLSs). DLSs refer to financial products structured to track the performance of underlying assets such as intere...

Kim Bo-eun | 2019-08-18 16:26

IBK to launch IBK Indonesia in September

Industrial Bank of Korea (IBK) will launch its corporate body in September, as it has received an approval from the Indonesian financial authorities to merge two Indonesian banks it took over in January, IBK said, Sunday. The state-run lender said in a statement that the Indonesian authorities gave the green light to unite the two lenders - Agris and Mitraniaga Bank - into on...

Kim Bo-eun | 2019-08-18 16:26

English education for teenagers

Teenagers wave at Seoul English Village Suyu Camp in northern Seoul, Wednesday. KB Kookmin Bank said Sunday it invited 400 teenagers for a five-day English-learning camp. Since 2016, 1,920 teenagers have participated in the English camp. / Courtesy of KB Kookmin Bank

Park Jae-hyuk | 2019-08-18 16:24

Shinhan opens 4 more branches in Vietnam

Shinhan Bank Vietnam has opened four new branches in Vietnam Aug.15, cementing itself as the largest foreign bank with a network of 36 branches in the Southeast Asian nation, it said Friday.

Lee Kyung-min | 2019-08-16 17:32

Shinhan-KAIST partnership

Shinhan Financial Group Chairman Cho Yong-byoung, left, and Korea Advanced Institute of Science and Technology (KAIST) President Shin Sung-chul shake hands while holding a signed memorandum at the bank's headquarters in Seoul, Aug. 16. The two agreed to boost cooperation in joint research concerning artificial intelligence-related financial algorithms. Courtesy of Shinhan Fin...

Lee Kyung-min | 2019-08-16 17:32

Net profits for Citbank, SC Korea jump in H1

Two major foreign banks here - Citibank Korea and Standard Chartered (SC) Bank Korea - saw their net profits increase in the first half of 2019 on the back of their continued efforts to reduce costs and improve productivity. Citibank Korea enjoyed a decent growth in its net profit for the first half of 2019, amid tougher circumstances surrounding banks here.

Kim Bo-eun | 2019-08-15 16:56

JB Financial enjoy W10 bil. net profit in Cambodia in H1

JB Financial Group said Phnom Penh Commercial Bank (PPCBank), the group's subsidiary bank in Cambodia, posted over a 10 billion won ($8.17 million) net profit in the first of the year.

Jhoo Dong-chan | 2019-08-14 18:00

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