Arab Today, arab today savings banks\ net losses narrow in q1q3 period in seoul
Last Updated : GMT 12:24:19
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Savings banks\' net losses narrow in Q1-Q3 period in Seoul

Arab Today, arab today

Arab Today, arab today Savings banks\' net losses narrow in Q1-Q3 period in Seoul

Seoul - Yonhap

South Korean savings banks' net losses narrowed in the first three quarters of fiscal 2013 as they cut loss reserves as part of tough restructuring efforts following a series of bankruptcies, the financial watchdog said Thursday. The combined net loss of 88 savings banks came to 440.1 billion won (US$430 million) in the period from July last year to March this year, falling 456.3 billion won from 896.4 billion won in the previous time frame, according to the Financial Supervisory Service (FSS). The banks close their books in June.

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