Arab Today, arab today korean banks may log betterthanexpected earnings for this year
Last Updated : GMT 14:03:04
Arab Today, arab today
Arab Today, arab today

Korean banks may log better-than-expected earnings for this year

Arab Today, arab today

Arab Today, arab today Korean banks may log better-than-expected earnings for this year

Seoul - Yonhap

South Korean banks may post better-than-expected earnings for this year on the back of smaller loan-loss reserves and an absence of the regulator\'s rule tightening on financial health, data showed Wednesday. Top banking group Woori Finance Holdings and the other three rivals may post a combined 6 trillion won (US$5.68 billion) in earnings for 2013, down from 7.71 trillion won tallied for last year, according to an estimate made by financial data provider FnGuide. Their net income amounted to 2.7 trillion won in the first half, according to market watchers. They added that in the second half, smaller loan-loss reserves and the regulator\'s attitude against banks\' practice of keeping up financial health may lend support to local banks\' bottom line. Korean banks kicked off an earnings season for the third quarter on Friday when Hana Financial Group reported a 63 percent on-year rise in net income. The earnings by the top four banking groups are estimated to reach 1.67 trillion won for the third quarter, up 41.7 percent from three months earlier, according to FnGuide. \"In the third quarter, the loan-loss reserves might have stabilized somewhat as local banks put aside more bad expenses related to troubled STX Group in the second quarter,\" said Koo Kyung-hwe, an analyst at Hyundai Securities Co. Korean banks have been suffering from weak earnings as a long streak of low rates undercut their net interest margin, and as the economic slowdown and corporate overhaul raised loan-loss reserves. Furthermore, the financial regulator said it is not likely to further strengthen the guidelines for local banks\' financial conditions at year-end, which will help lenders\' net income for the fourth quarter. Usually, the financial regulator advises local banks to beef up their financial health by reducing bad debt or putting aside more reserves. No. 2 financial services company KB Financial Group will unveil its third-quarter earnings on Friday, and its rival Shinhan Financial plans to announce the performance next Tuesday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today korean banks may log betterthanexpected earnings for this year Arab Today, arab today korean banks may log betterthanexpected earnings for this year

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Hamas leader accuses Israel

GMT 11:43 2017 Tuesday ,28 March

Hamas leader accuses Israel
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 13:21 2017 Tuesday ,28 March

Samsung plans to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday