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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.

Finance

Korean commercial banks join BIS \'Project Agora\' to verify deposit token payment system

South Korea\'s five major banks - KB Kookmin, Shinhan, Hana, Woori and NH NongHyup Bank - have checked the potential to improve inter-institution payment transactions globally. The banks joined Project Agora, a joint initiative by the Bank for International Settlements and the Institute of International Finance. Participants tested whether blockchain technology and smart contracts can cut costs and time for large cross-border payments while maintaining the legal nature of reserves and deposits.

Crypto

Visa-led crypto card payments surge 230 percent year on year

Crypto card payments are growing rapidly, reshaping competition in the global payments industry. Onchain-based crypto card payments recently hit a record $7.8 billion, with Visa accounting for about 90 percent of transactions. PaymentScan data showed total crypto card payments have risen about 230 percent since May 2025 as users spend stablecoins held in wallets without bank transfers. Visa is expanding stablecoin-linked card programs with Bridge and moving toward onchain settlement.