South Korean banks' net income fell 13.9% in Q3, hit by lower interest income and rising loan losses.

South Korean banks saw their net income fall by 13.9% in the third quarter, dropping to 6.2 trillion won, due to a 1.9% decrease in interest income. Despite this, non-interest income surged by 50.9% due to lower market rates. However, loan-loss expenses rose by 50.6%, and return on assets and equity both declined, reflecting challenges in the banking sector.

November 19, 2024
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