Arab Today, arab today foreign banks profit drops amid lower interest rates in korea
Last Updated : GMT 13:29:47
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Arab Today, arab today

Foreign banks' profit drops amid lower interest rates in Korea

Arab Today, arab today

Arab Today, arab today Foreign banks' profit drops amid lower interest rates in Korea

Foreign bank in Korea
Seoul - Yonhap

Local branches of foreign banks operating in South Korea saw their net profit decline in recent years, bogged down by a low interest rate trend and tighter financial regulations, data showed Thursday.
After peaking at 2.4 trillion won (US$2.2 billion) in 2009, the combined net profit of foreign branches has been on a downward path. It declined from 1.5 trillion won in 2010 to 1.3 trillion won in 2011, 1 trillion won in 2012 and 900 trillion won in 2013, according to the data gathered from financial records.

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