South Korea’s Financial Supervisory Service reported that domestic banks’ net profit in Q1 2021 rose 28.7% YoY to KRW 6.9 trillion ($6.1 billion), largely due to the absence of one-time costs linked to compensation for equity-linked securities. Interest income fell slightly to KRW 14.8 trillion, while non-interest income rose to KRW 2 trillion due to increased profits from marketable securities. The agency plans to encourage banks to enhance their loss absorption capacity amid ongoing domestic and global uncertainties.
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Auto-posted at: 2025-05-23 09:02:17