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Crypto

BIS warns crypto exchanges risk turning into \'shadow banks\'

The Bank for International Settlements warned that crypto exchanges are expanding bank-like services such as lending and yield products while operating without protections typical of traditional finance. It said major exchanges are evolving into multifunction crypto intermediaries combining banking, brokerage and exchange roles. The BIS flagged the spread of interest and yield products aimed at retail investors, saying they resemble lightly regulated, unsecured shadow-bank lending. It cited Celsius Network and FTX collapses and noted forced liquidations of about $19 billion in October 2025.

Finance

KB Financial Q1 net profit 1.8924 trillion won, up 11.5 percent on year

KB Financial Group said first-quarter net profit rose 11.5 percent from a year earlier to 1.8924 trillion won, helped by higher fee income at its bank, securities and asset management units despite increased market volatility. Non-bank units raised their contribution to fee income and net profit. Key capital and soundness metrics stayed stable, with a CET1 ratio of 13.63 percent and a BIS ratio of 15.75 percent as of end-March.

Finance

Shinhan Financial Q1 net profit 1.62 trillion won, up 9 percent on year

Shinhan Financial Group said on Wednesday its first-quarter net profit rose 9.0 percent from a year earlier to 1.62 trillion won. Improved non-interest income, led by securities, drove the earnings increase, while interest income held a stable trend. Selling and administrative expenses and credit loss costs were also managed steadily. The group’s CET1 ratio stood at 13.19 percent and its BIS capital ratio at 15.72 percent as of end-March 2026.