Arab Today, arab today south korea suspends 4 savings banks
Last Updated : GMT 16:22:08
Arab Today, arab today
Arab Today, arab today

South Korea suspends 4 savings banks

Arab Today, arab today

Arab Today, arab today South Korea suspends 4 savings banks

Seoul - AFP

South Korea's financial watchdog on Sunday suspended four savings banks for six months because they failed to meet financial-strength standards. The four are Solomon, Mirae, Hanju and Korea Savings Bank, the Financial Services Commission said, amid moves to tighten the banking industry in South Korea. They were ordered to appoint new managers and improve their finances within 45 days. They will be put on sale if they fail to do so. Last year the watchdog suspended 16 savings banks found to be in difficulty, mainly due to reckless investments in risky property projects. Financial regulators have launched an extensive probe into irregularities by savings banks since Busan, the country's largest savings bank, was suspended in early 2011. In February, Busan's eight executives received jail terms of up to 14 years for offences including a lobbying operation aimed at keeping the bank open and $5.3 billion of illegal lending. Busan was found to have lobbied politicians and government officials to avoid having its operations suspended. Prosecutors have questioned thousands of people and dozens of government officials, bank executives and others have been charged with corruption. Three bankers have committed suicide.

arabstoday
arabstoday

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 south korea suspends 4 savings banks Arab Today, arab today south korea suspends 4 savings banks

 



Arab Today, arab today

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 south korea suspends 4 savings banks Arab Today, arab today south korea suspends 4 savings banks

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
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