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Finance

Savings banks post 765.8 billion won net profit in first half, delinquency rate improves

South Korea\'s savings banks posted a cumulative net profit of 765.8 billion won in the first half of this year, extending profitability to a second straight quarter. Asset quality indicators improved as both the delinquency rate and the ratio of substandard loans fell from the previous quarter. Total assets rose to 120.6 trillion won at end-June, while deposits increased to 100.4 trillion won. The industry group forecast continued profitability in the second half.

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.