Search results for Acuon Savings Bank
Finance
Why Korea\'s financial sector is rushing to buy capital companies
Competition to acquire capital companies is intensifying in South Korea\'s financial sector. With limited room for growth in household lending and mounting constraints on profit models centered on deposit-to-loan margins, capital firms are emerging as a key route into the non-bank credit market. KakaoBank is pushing to buy Mastern Capital, Hanwha Life has been named preferred bidder for Acuon Capital, and Sh Suhyup Bank is reviewing options as it seeks to broaden its non-bank portfolio.
Finance
Savings banks raise deposit rates as money moves out, 4 percent products return
South Korean savings banks are raising deposit rates as deposit-like funds move out amid a stock market tilt. The average 1-year term deposit rate at 79 savings banks reached 3.74 percent as of June 26, the highest since November 2024. OK Savings Bank lifted rates to 4.5 percent on some products, while others raised term and demand-account rates toward 3 percent. Banks have also increased deposit rates, narrowing the gap.
Finance
Banks ramp up gathering account race as services evolve into AI treasurers
South Korean banks are intensifying competition in gathering accounts, led by KakaoBank and followed by commercial banks and savings banks seeking control of everyday finance platforms. New products combine dues management with higher interest, scheduling and AI features. Hana Bank launched a structure separating transaction and vault balances with up to 2.5 percent interest. KakaoBank leads with 12.9 million users and 11.6 trillion won in balances.