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Finance

KB Financial first-half net profit 3.88 trillion won, non-bank contribution 44 percent

KB Financial Group posted a first-half net profit of 3.88 trillion won, up 13.1 percent from a year earlier, helped by higher fee income. Net fee income surged 50.6 percent, while second-quarter net interest income fell and margins narrowed. Non-bank units accounted for 44 percent of group profit, with KB Securities contributing about 21 percent. The board approved a 700 billion won share buyback and cancellation and a quarterly cash dividend of 1,155 won per share.

Finance

Korean banks\' loan delinquency rate rises to 0.67%; SME delinquency tops 1 percent

South Korean banks\' delinquency rate on won-denominated loans rose for a second straight month, driven by an increase in new delinquencies and a decline in the amount of delinquent loans written off or sold. The Financial Supervisory Service said the rate stood at 0.67% at end-May, up 0.06 percentage point from a month earlier. The delinquency rate on SME loans rose to 1.00%, while household loan delinquencies increased to 0.45%.

Finance

BOK shifts to tightening as growth rebounds, leaves door open to more rate hikes

The Bank of Korea raised its policy rate to 2.75 percent from 2.50 percent, marking a shift toward tighter monetary policy. It cited cost pressures from oil and the currency, and demand-side inflation risks as AI investment and a semiconductor boom lift income and support consumption. The central bank also pointed to financial stability risks including housing prices, household debt and exchange-rate volatility, and did not rule out additional rate increases.