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Finance

Banks

Sun, September 19, 2021 | 13:21

Banks expand retail, digital ties while cutting costs on conventional operations

Korean banks are seeking fresh revenue sources by partnering with retail and IT firms, as part of their all-out digital transformation strategy.

2021-09-17 09:01

Eximbank donates meal boxes for vulnerable groups

The state-run Export-Import Bank of Korea (Eximbank) has delivered meal boxes to socially vulnerable in Seoul to fulfill its corporate social responsibility (CSR) ahead of the Chuseok holiday, the bank said Thursday.

2021-09-16 14:03

Hana donates eco-friendly vehicles under ESG plan

Hana Bank donated Wednesday two liquefied petroleum gas (LPG) vehicles to a mobility startup operating a service for deaf taxi drivers to better communicate with customers.

2021-09-15 15:41

KDB, Hana team up for innovation

Hana Bank will increase cooperation with the state-run Korea Development Bank (KDB), in a move to create synergy in advancing financial services in the form of a public-private partnership.

2021-09-14 08:53

Financial stocks to bounce back on KakaoBank's inclusion in bank index

Bank stocks will regain momentum for an additional rally by the end of 2021 after KakaoBank's inclusion in the KOSPI 200 Financials Index, Friday, according to industry watchers.

2021-09-10 15:50

Woori Financial's privatization feasible by end of 2021

Woori Financial Group is expected to be fully privatized no later than the end of 2021, after two decades of “public ownership,” if the government acquires a buyer for its remaining 10-percent stake in the bank holding company.

2021-09-10 08:49

Shinhan, NH extend contracts with crypto exchanges

Shinhan Bank and NongHyup Bank decided Wednesday to extend their contracts with local cryptocurrency exchanges, after verifying the exchanges' bolstered efforts to maintain anti-money laundering protocols.

2021-09-08 12:40

Helping venture capital firms digitize back offices

NongHyup Bank CEO Kwon Jun-hak, right, and Korea Securities Depository Rhee Myong-ho pose at the bank's main branch in Seoul, Monday, after signing a memorandum of understanding to help venture capital firms digitize their back offices. They agreed to open their digital platforms for this goal in October. Courtesy of NongHyup Bank

2021-09-07 11:40

Banks come under fire for 'greedy' loan rate hike

Commercial banks are being criticized for rushing to raise loan interest rates following the Bank of Korea's (BOK) base rate hike last month, while dragging their heels when it comes to increasing interest rates on deposits.

2021-09-05 15:45

Bank workers to strike in protest of branch shutdowns

Unionized workers of commercial and state-run banks nationwide plan to go on strike later this month to protest the management's unilateral decision to close branches and to increase wages at a lower-than-expected rate, the Korean Financial Industry Union (KFIU) said last week.

2021-09-03 13:48

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