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Search results for NH NongHyup Financial Group

Finance

Securities firms race to expand size amid IMA, investment bank push, raise 8.7 trillion won

South Korean securities firms are accelerating capital expansion as they compete to enter integrated management accounts (IMA) and become comprehensive financial investment businesses. Thirteen brokerages have raised or are seeking 8.705 trillion won this year through rights issues and hybrid capital securities, about twice last year’s total. KB Securities led with 1.7 trillion won. The capital race is tied to rules that expand permitted businesses based on equity levels, including IMA eligibility at 8 trillion won.

Finance

NH reform pledge questioned as lawmakers press probe status on 14 misconduct allegations

South Korean lawmakers debated reform plans for the National Agricultural Cooperative Federation, including how its chairman is elected and the independence of audit bodies, during a parliamentary audit. Lawmakers questioned whether expanding the chairman vote to all cooperative members is legally consistent and properly agreed. Opposition lawmakers also demanded submission of investigation updates on 14 alleged misconduct cases. The audit also reviewed conversion of unused NH points to local currency and attendance issues.

Finance

KB Financial generational shift puts bank CEO appointments in focus

A long-standing expectation of CEO reappointment in South Korea’s financial sector is being tested after KB Financial Group chose Lee Jae-geun as its next chairman instead of reappointing Yang Jong-hee. Attention is turning to Sh Suhyup Bank’s selection of its next chief executive, with a final candidate due on Sept. 22. Major bank CEO terms also end on Dec. 31, while the Financial Supervisory Service plans tighter checks of succession processes.