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Finance

Woori Financial first-half net profit 1.61 trillion won, non-bank contribution rises to 22.3%

Woori Financial Group posted first-half net profit attributable to owners of the parent of 1.609 trillion won, up 3.7% from a year earlier, helped by higher capital markets fee income and the effect of consolidating an insurer. Second-quarter profit rose 66.4% from the previous quarter to 1.005 trillion won. Non-bank units’ share of group profit rose to 22.3%. The group announced a 220 won per share cash dividend for the second quarter.

Finance

Shinhan Financial first-half net profit rises 13.3 percent on strong brokerage

Shinhan Financial Group posted a record first-half net profit of 3.44 trillion won, up 13.3 percent from a year earlier, helped by growth in its capital markets businesses such as brokerage and asset management. Net interest income rose 7.7 percent and non-interest income increased 19.7 percent, lifting the non-interest share of total earnings to 30 percent. The board set a second-quarter dividend of 740 won per share and plans additional share buybacks and cancellation.

Finance

Savings banks sustain profit after PF cleanup; expanding loans for lower-credit borrowers remains task

South Korea\'s savings banks posted 333.8 billion won in net profit in the first quarter, extending a return to the black helped by lower provisions and cleanup of problem property project financing. Some operating indicators improved and capital ratios stayed solid, but delinquency and non-performing loan ratios rose. Lending to mid- and lower-credit borrowers shrank by more than 1 trillion won from a year earlier, raising concerns about weakening support for households and small businesses.