Finance

Shinhan Bank tightens credit loan controls, limits non-face-to-face applications

Shinhan Bank will tighten management of credit loans in response to rising household debt. It will temporarily adjust the volume of non-face-to-face credit loan applications, limiting such requests when combined daily face-to-face and non-face-to-face intake exceeds internal standards. Support products for financially vulnerable groups will be excluded. The bank will also strengthen overdraft limit management, cutting limits by up to 20 percent at renewal for certain low-utilisation accounts.

Finance

Shinhan Investment & Securities completes public growth fund subscription, raises allocation for low-income investors to 35 percent

Shinhan Investment & Securities completed subscriptions for the Public Growth Fund, a government policy financial product, it said on Thursday. It set the allocation for low-income investors at 35 percent of the 20 billion won total, above the government guideline of 20 percent. Of the allocation, 5 billion won came from offline subscriptions and 2 billion won from online subscriptions. The fund invests in domestic growth companies using public and policy funds.