South Korean banks' first half net income fell 11% due to lower non-interest income.
South Korean banks' first half net income fell 11% due to lower non-interest income, despite interest income reaching a record high of 29.8 trillion won. Loan-loss expenses decreased, but non-operating losses amounted to 1.4 trillion won. Return on assets and equity also declined. The decrease was mainly due to a drop in specialized banks' profits, with domestic banks' combined net income reaching 12.6 trillion won, down 1.5 trillion won from the previous year.
August 22, 2024
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