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Search results for JB Financial Group

Finance

PG firms team up to block fraudulent payments, rate hike fallout in focus

South Korea\'s fintech sector is expanding payment infrastructure while strengthening security and user protection. The Financial Supervisory Service and the Korea Fintech Industry Association launched a consultative body with major payment gateway firms to curb suspicious transactions. The Bank of Korea raised its policy rate to 2.75 percent, the first hike in 3.5 years, prompting tighter household lending management. Authorities also plan higher deposits and trading units for single-stock leveraged ETFs.

Finance

Align Partners makes public proposal to review merger between JB Financial and BNK Financial

Align Partners Asset Management made a public proposal to the boards of JB Financial Group and BNK Financial Group to review the strategic and financial feasibility of a merger. It said it asked the boards to form a special committee of independent directors and appoint a global investment bank and a strategy consultancy as advisers. Align Partners requested a reply by Aug. 7 and disclosure of any review results by the third-quarter earnings release.

Finance

Regional financial holdings post mixed Q1 net profit results despite asset growth

BNK, JB and iM financial holding groups posted asset growth in the first quarter, but their profit structures diverged. Combined net profit rose 9.9 percent from a year earlier to 532 billion won. BNK’s profit jumped 26.9 percent, while JB and iM were little changed. Differences emerged in non-interest income, expenses and asset quality indicators. All three saw capital units strengthen their role in earnings and expanded shareholder return policies.