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Finance

NH NongHyup Financial posts record nine-month net profit of 2.53 trillion won, up 11.9 percent

NH NongHyup Financial Group posted a record net profit of 2.53 trillion won for the first nine months of the year, up 11.9 percent from a year earlier. The company said interest income rose on loan growth centred on corporate finance and funding cost management. Non-interest income increased as capital-market affiliates such as securities and asset management delivered strong results. Third-quarter net profit fell from the previous quarter.

Finance

Shinhan Financial starts selecting CEOs for 12 units, expands bank nomination panel role

Shinhan Financial Group has begun selecting next chief executives for 12 subsidiaries whose CEOs’ terms expire at the end of this year. It plans to improve management succession procedures by expanding the authority of the bank’s executive candidate nomination committee to recommend candidates and by detailing CEO evaluation criteria for each unit. The group’s subsidiary CEO nomination committee also recommended Shinhan REITs Management CEO Lim Hyun-woo as head of a merged entity.

Fintech

Korea Investment Securities introduces real-time valuation for pension assets

Korea Investment Securities has introduced a feature that allows users to check real-time balance changes for assets in pension accounts, including exchange-traded funds and cash-like holdings. The company said on Aug. 10 it began offering the real-time total pension asset valuation function from Aug. 7. The upgrade enables immediate viewing of asset status after investment, instead of reflecting cash balance changes on the D+2 settlement date.