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S.Korea’s top 4 financial holding firms cheer upbeat Q1 results

Korea Economic Daily LogoKorea Economic Daily16h ago

S.Korea’s top 4 financial holding firms cheer upbeat Q1 results - Korea Economic Daily

Quick Summary:

According to regulatory filings by Shinhan Financial Group Co., Hana Financial Group and Woori Financial Group Co.– on Friday, a total net profit of the country’s four leading financial holding companies, including KB Financial Group Inc.that reported its result a day before, reached 4.93 trillion won ($3.4 billion) in the January-March period, 16.8% higher than a year ago.

Their total allowance for loan losses for the first quarter jumped 26.7% on-year to 1.83 trillion won.“The biggest challenge we face this year is ensuring financial soundness,” Chun Sang-yung, vice president and chief financial officer of Shinhan Financial, said during an earnings video call on Friday.

South Korea’s top four financial holding companies – Shinhan, KB, Hana and Woori – reported stellar earnings for the first quarter as they have turned the corner after last year’s heavy blow from the equity-linked securities (ELS) debacle.


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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-25 @ 19:51:57 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 574 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 28206870

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About Korea Economic Daily

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Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 7 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: 15 hours ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #91

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