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Preliminary Bank BIS Capital Ratios: June, 2006

    Preliminary Bank BIS Capital Ratios: June, 2006

    August 30, 2006
  • Preliminary figures show bank BIS capital ratios averaged 13.08% at the end of June, compared with end-2005 average of 13.00%. Bank capital rose KRW9.1 trillion or 8.8% on robust net income totaling KRW8.1 trillion for the first half of 2006, compared with KRW64.6 trillion or 8.2% jump in risk-weighted assets. Tier-1 capital rose 11.0% (KRW8.1 trillion) versus a 3.3% increase (KRW1.0 trillion) for tier-2 capital.

  

Bank Loans Classified as Substandard or Below: First Half, 2006

    Bank Loans Classified as Substandard or Below: First Half, 2006

    August 30, 2006
  • Bank loans classified as substandard or below (SBLs)–substandard, doubtful, or presumed loss–totaled KRW8.8 trillion at the end of June, down from KRW9.7 trillion at the end of 2005. The ratio of SBLs to total outstanding loans fell from 1.22% to 1.02%, the lowest ratio since the forward-looking criteria were first adopted in 1999. Disposition of borrower collateral, aggressive write-off of SBLs, and a smaller increase in new SBLs–KRW6.0 trillion compared with KRW8.8 trillion for H1, 2005, and KRW7.1 trillion for H2, 2005–mainly contributed to the drop in SBL ratio for the first half of 2006.

  

Asset Management Companies Operating Results Q1 FY2006

    Asset Management Companies Operating Results Q1 FY2006

    August 17, 2006
  • Preliminary operating results from a total of 48 asset management companies show pretax income for the first quarter of FY2006 ended June 30 will come to KRW92.54 billion, up sharply from KRW21.59 billion a year earlier. A KRW67.44 billion increase in investment management fees driven by a surge in assets under management mostly contributed to the jump in pretax income for the period. Net income for the period is expected to total KRW72.54 billion.

  

Bank First Half 2006 Net Income

    Bank First Half 2006 Net Income

    July 31, 2006
  • Preliminary figures show domestic banks’ net income for the first half of 2006 will come to KRW8.09 trillion, up 23.4% or KRW1.54 trillion from KRW6.55 trillion a year earlier. An 8.5% or KRW1.1 trillion increase in interest income driven by continued loan growth as well as a 50.3% or KRW1.2 trillion drop in loan loss provisions mainly contributed to the robust earnings for the period.

  

FSC Announces a Task Force on Capital Market Consolidatiln Legislation

    FSC Announces a Task Force on Capital Market Consolidatiln Legislation

    July 31, 2006
  • The Financial Supervisory Commission announced on July 17 the formation of a task force on the capital market consolidation legislation (provisionally titled “Financial Investment Services and Capital Market Act”) in order to conduct a thorough review of the new legislation and come up with recommendations for the Ministry of Finance and Economy. The task force was formed as part of the ongoing effort by the FSC to reduce regulatory arbitrage, provide a consistent regulatory framework and facilitate a balance growth of the capital market.

  

Bank BIS Capital Ratio March 2006

    Bank BIS Capital Ratio March 2006

    July 31, 2006
  • Bank BIS capital ratios averaged 13.18% as of the end of March, 2006, up from 13.00% at the end of 2005. The end-March capital ratio is the highest ever reported by domestic banks. Risk-weighted assets rose KRW17.4 trillion or 2.2% during the first quarter, but bank capital also rose KRW3.7 trillion or 3.6% on the back of KRW3.9 trillion in net income during the period. Tier-1 capital increased KRW3.9 trillion or 5.3%, while tier-2 capital showed a modest drop of KRW500 billion or 1.6%.

  

Credit Card Companies Q1 2006 Net Income

    Credit Card Companies Q1 2006 Net Income

    June 21, 2006
  • The six domestic credit card companies reported net income totaling KRW526.4 billion for the first quarter of 2006, up from the 2005 fourth quarter total of KRW344.2 billion. Operating income came to KRW474.1 billion. Earnings for the first quarter were helped by a 44.1% drop in bad debt expenses from the fourth quarter of 2005.

  

Bank Loans Classified as Substandard or Below-First Quarter 2006

    Bank Loans Classified as Substandard or Below-First Quarter 2006

    June 21, 2006
  • Bank loans classified as substandard or below (SBLs)–substandard, doubtful, or presumed loss–totaled KRW9.75 trillion at the end of the first quarter of 2006, up slightly from KRW9.72 trillion at the end of 2005. During the same period, the ratio of SBLs to the total outstanding loans fell from 1.22% to 1.20%, the lowest level since the forward-looking criteria were first adopted in 1999. A drop in newly distressed loans during the quarter mainly contributed to the lower SBL ratio.

  

Bank BIS Capital Ratio March 2006

    Bank BIS Capital Ratio March 2006

    June 21, 2006
  • Bank BIS capital ratios averaged 13.18% as of the end of March, 2006, up from 13.00% at the end of 2005. The end-March capital ratio is the highest ever reported by domestic banks. Risk-weighted assets rose KRW17.4 trillion or 2.2% during the first quarter, but bank capital also rose KRW3.7 trillion or 3.6% on the back of KRW3.9 trillion in net income during the period. Tier-1 capital increased KRW3.9 trillion or 5.3%, while tier-2 capital showed a modest drop of KRW500 billion or 1.6%.

  

Chairman/Governor Yoon Jeung-Hyun Holds High-Level Talks in Washington, D.C., and Attends 8th Integrated Financial Supervisor

    Chairman/Governor Yoon Jeung-Hyun Holds High-Level Talks in Washington, D.C., and Attends 8th Integrated Financial Supervisor

    05 22, 2006
  • Chairman/Governor Yoon Jeung-Hyun of the Financial Supervisory Commission and the Financial Supervisory Service met with senior U.S. regulators in Washington, D.C., and attended the 8th Integrated Financial Supervisors Conference in Budapest, Hungary.