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Sun, November 27, 2022 | 04:58

Credit Suisse's Korea operation aims to maintain key status amid restructuring plan

Credit Suisse's Korea operation aims to maintain key status amid restructuring plan

Credit Suisse announced a series of radical restructuring measures to revamp its global banking business on Thursday, after taking three months of thoroughly reviewing and reassessing its strategic future directions. The measures came as the Switzerland-headquartered bank posted its fourth straight quarterly loss for the third quarter of this year. According to its earnings a...

Anna J. Park | 2022-10-28 16:56

Shinhan's securities arm opens first office in Silicon Valley

Shinhan's securities arm opens first office in Silicon Valley

Shinhan Securities has opened an office in Silicon Valley, California - the first among local brokerage houses - with a view to enhancing its expertise in investment banking and its global startup network, the company said. According to the company, Shinhan Securities' Silicon Valley Representative Office started operating from Tuesday.

Lee Min-hyung | 2022-10-27 17:20

KSD to host meeting of Asia-Pacific securities depositories

KSD to host meeting of Asia-Pacific securities depositories

Korea Securities Depository (KSD) will host a meeting of the securities depositories of Asia-Pacific nations next month in Busan. According to the KSD, it will host the 24th Asia-Pacific Central Securities Depository (CSD) Group (ACG) meeting in Busan from Nov. 7 to 10.

2022-10-27 16:38

Hana launches project to nurture digitally minded workers

Hana launches project to nurture digitally minded workers

Hana Financial Group Chairman Ham Young-joo, fourth from right, and Financial Supervisory Service (FSS) Governor Lee Bok-hyun, fourth from left, pose with other participants of a project initiated by the banking group to foster young workers skilled in digital technologies, during a ceremony at Cheongna International City in Incheon, Thursday. The ceremony took place at the g...

Yi Whan-woo | 2022-10-27 16:16

Corporate direct financing dives in Sept. on fall in bond sale

Corporate direct financing dives in Sept. on fall in bond sale

Corporate direct financing in Korea dived in September as bond issuance sharply shrank amid fast-rising borrowing costs, data showed Thursday.

2022-10-27 09:39

KakaoBank to launch emergency response team following service outage

KakaoBank to launch emergency response team following service outage

KakaoBank will launch an emergency response team led by its chief information officer (CIO), the company announced on Tuesday, in response to Kakao's unprecedented service outage earlier this month. The team will operate under the lender's counter-crisis division and take responsibility for emergency measures in the event of any future disasters that could affect banking oper...

Yi Whan-woo | 2022-10-25 16:47

Shinhan overtakes KB in Q3 performance

Shinhan overtakes KB in Q3 performance

Shinhan Financial Group reaped the biggest gains among the nation's four major banking groups in the third quarter, outpacing KB Financial Group which saw a slight fall in profits but retains the top position by market capitalization. In a report released on Tuesday, Shinhan Financial Group said it posted a record quarterly net profit of 1.59 trillion won ($1.11 billion) in t...

Yi Whan-woo | 2022-10-25 16:47

Mirae Asset joins Musk's Twitter acquisition deal

Mirae Asset joins Musk's Twitter acquisition deal

Mirae Asset Global Investments will invest 300 billion won ($209 million) in Elon Musk's $44 billion Twitter acquisition deal. According to local investment banking industry sources, Tuesday, the asset management arm of Mirae Asset Financial Group has set up a fund worth 300 billion won as part of its plans to participate in Musk's Twitter buyout. Mirae Asset Securities is in...

Anna J. Park | 2022-10-25 16:18

Credit Suisse to pay $234 million to settle French tax fraud case

Credit Suisse to pay $234 million to settle French tax fraud case

French prosecutors said Monday that Credit Suisse has agreed to pay 238 million euros ($234 million) to settle tax fraud allegations, the latest blow for the embattled Swiss bank. The bank will pay 123 million euros in fines and 115 million in damages and interest to France, whose investigators will close an inquiry launched in 2016 on possible charges of aggravated tax fraud...

2022-10-24 21:08

JB Financial Group posts 24.7 percent YOY growth in Q3 net profit

JB Financial Group posts 24.7 percent YOY growth in Q3 net profit

JB Financial Group posted a quarterly net profit of 167 billion won ($116 million) during the third quarter of this year, up 24.7 percent compared to the same period last year. According to the financial group's official announcement on Monday, JB Financial's cumulative net profit during the first three quarters of this year stood at 487.1 billion won, which is an all-time-hi...

Anna J. Park | 2022-10-24 16:58

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