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Finance

Banks

Sun, October 17, 2021 | 21:14

Banking groups on alert over widening virus-related uncertainties

The nation's four major banking groups are on alert over the fourth wave of the COVID-19 pandemic, as it heightens uncertainties in the local financial market that could possibly slow down the momentum of an economic recovery here.

2021-07-13 16:50

Woori to spend W100 tril. on ESG projects

Woori Financial Group shared Monday its vision of making available 100 trillion won ($87.19 billion) for financing environmental, social and corporate governance (ESG) projects by 2030.

2021-07-12 17:05

Ex-Citibank Korea chief joins Toss Bank as outside director

Park Jin-hei, former CEO of Citibank Korea, has been appointed as Toss Bank's outside director ahead of the mobile bank's much-anticipated market debut in September, Toss Bank said Monday.

2021-07-12 17:05

Toss, Hana Bank tasked to explore new revenue streams

Toss Bank, whose debut as an internet-only bank here appears to be on hold, is being urged to find new sources of money to stay afloat by teaming up with one of its largest investors - Hana Bank.

2021-07-06 16:14

[ANALYSIS] Banks to give out higher shareholder dividends

After the U.S. Fed signaled it would loosen its control over banks' dividend payouts if they pass “stress tests,” gauging how they will fare in worst case scenarios, five out of six major U.S. institutions are set to pay an additional $2 billion in the next quarter, along with a sizable buyback of their own shares later on in the year to return more money to investors. The U....

Anna J. Park | 2021-07-03 09:49

Banks benefiting from absence of watchdog chief

Korea's banks and financial firms are benefiting from a longer-than-expected leadership vacuum at the Financial Supervisory Service (FSS), as a series of sanction-related risks on them have been put on hold.

2021-07-02 16:44

No Korean banks want to take over Citi's Southeast Asian retail banking

None of the nation's major commercial banks have expressed an intention to take over Citibank's Southeast Asian consumer banking business, as they did not feel any “immediate need” to do so at a time when most Korean lenders are focusing more on enhancing their own brand value, officials from the banking industry said Friday.

2021-07-02 16:27

JB Financial Group declares ESG mission statement

JB Financial Group released a “mission statement” Wednesday pledging its commitment to environmental, social and corporate governance goals as part of the group's mid- to long-term strategic vision.

Anna J. Park | 2021-07-01 16:02

Digitization forces Korean banks to shut down branches

Korean banks are buckling down for digitization by accelerating their closure of branches nationwide. The move is also aimed at cutting fixed costs to free up money to invest in burgeoning digital businesses. Industry sources say the shuttering of branch offices will increase in the coming years, as the pandemic-induced growth of online transactions results in a digital parad...

2021-06-29 16:27

Young employees at Bank of Korea dissatisfied over hierarchical, inflexible office culture

Young employees at the Bank of Korea (BOK) are more dissatisfied than in the past over the organization's strict, authoritarian and bureaucratic office culture, as well as its poor company welfare benefits system.

2021-06-28 16:07

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