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Industry Report Card: Korea's Banks Perform Well, But Face Challenging Competitive Environment Sep 07 Product Image

Industry Report Card: Korea's Banks Perform Well, But Face Challenging Competitive Environment Sep 07

  • Published: September 2007
  • Standard & Poors

Abstract
Last year's strong performance results delivered by Korean banks carried over into the first six months of 2007. Korean banks collectively reported an ROA of 1.5% for the period, a 0.1 percentage point improvement over the 1.4% ROA from the same period a year ago. This year's strong performance results, however, have been largely due to a one-time gain from the sale of LG Card stock acquired through debt-for-equity swaps. The total gain from the sale of LG Card accounted for about 25% of Korean banks' pre-provision operating profits during the first half of 2007. Profitability from core operations actually decreased slightly, due mainly to contracting interest margins in the midst of intense competition in the aggressively growing loan issuance...

Companies mentioned in this report are: Korea Exchange Bank,Standard Chartered First Bank Korea Ltd.,Shinhan Bank,Kookmin Bank,Woori Bank,Citibank Korea Inc.,Hana Bank,Woori Finance Holdings Co. Ltd.

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress READ MORE >

Korea Exchange Bank,Standard Chartered First Bank Korea Ltd.,Shinhan Bank,Kookmin Bank,Woori Bank,Citibank Korea Inc.,Hana Bank,Woori Finance Holdings Co. Ltd.

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