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Finance

IBK Industrial Bank of Korea launches 1 trillion won inclusive loan for mid-to-low credit borrowers

IBK Industrial Bank of Korea has launched a 1 trillion won personal credit loan programme to reduce financing costs and repayment burdens for mid-to-low credit borrowers. The product, called IBK Good Rate Inclusive Loan, targets customers in the bottom 50 percent of personal credit scores. It applies a single annual interest rate of 4.9 percent without complex preferential conditions. Customers aged 34 and under can borrow at 4.7 percent.

Finance

Woori Investment Securities Q2 net profit 11 billion won, down 21 percent from Q1

Woori Investment Securities posted a second-quarter net profit of 11 billion won, down 21.4 percent from the previous quarter, as expanded credit loss costs outweighed gains in interest and non-interest income. Net operating revenue rose 8.6 percent to 76 billion won, while credit loss costs jumped 88.9 percent to 17 billion won. First-half net profit climbed 47.1 percent year on year to 25 billion won, and retail customers increased to 781,000.