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Finance

Korean financial groups post third-quarter results as stock market outlook hits zero visibility

Korean financial holding firms and banks continued to release third-quarter results, with Woori Bank posting its biggest quarterly net profit on record and Hana Financial Group lifting year-to-date profit on higher fee income. Brokerages faced weakening profitability as trading value fell and market rates rose, adding valuation loss pressure in trading. The Bank of Korea held its policy rate at 3.00 percent, while competition in retirement pensions and expanded support for small firms continued.

AI & Enterprise

Pinda Savings Bank names Park Yeon-hyun as first CEO

Pinda appointed Park Yeon-hyun, former head of the corporate product division at Toss Bank, as the first chief executive of Pinda Savings Bank, it said on Oct. 23. Park joined Toss Bank in its early days and worked on joint loan products and corporate finance. Pinda plans to pursue a digital savings bank business using financial data and artificial intelligence technology, and link its existing loan comparison and brokerage platform with the savings bank business.

Finance

Pinda expands insurance sales customer acquisition channels, teams up with The Yeolsimhi

Pinda is expanding a business that links customer interest and demand identified on its financial platform to insurance consultations. It is working with insurance permission specialist The Yeolsimhi to support steps from identifying potential customers to confirming their willingness to consult. The model aims to broaden customer acquisition routes for insurers and corporate insurance agencies (GAs) and focus on prospects more likely to lead to consultations and visit appointments.