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Banks vary in how they use SCB to assess small business loans

South Korean banks have begun piloting Small Business-specialised Credit Evaluation (SCB), which adds business growth potential such as sales, industry and commercial area to traditional credit assessment. Banks are using SCB in different ways, including overriding internal grades to improve approval odds and offering higher loan limits or broader support. A high SCB grade does not guarantee approval if other risk factors exist. Regulators allow use for approvals, limits and rates, while standards vary by bank.

AI & Enterprise

ITCEN CTS to issue 5 billion won convertible bonds to ITCEN Global, repay debt

ITCEN CTS said on Monday it will issue 5 billion won ($3.7 million) of convertible bonds to its largest shareholder, ITCEN Global, and use the entire proceeds to repay borrowings. The company said ITCEN Global will subscribe to the full amount, with payment due on Sept. 16. ITCEN CTS said the funds will be used to repay part of a general loan from a financial institution, not for new business investment or working capital.

Finance

Nextrade to introduce volatility interruption to prevent price distortions from small orders

Nextrade (NXT) will introduce a static volatility interruption in the premarket to prevent sharp price swings caused by small orders. It will also change the post-trigger process from a temporary trading halt to a call auction that collects orders to set a price. Nextrade said it revised its rules and will implement the changes from Sept. 14. The move follows recent cases of limit-up or limit-down trades on small volumes.