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Financial holding firms' 2019 net gain 31 pct

All News 08:56 April 06, 2020

SEOUL, April 6 (Yonhap) -- South Korea's financial holding firms saw their combined net profit rise 30.9 percent in 2019 from a year earlier, data showed Monday.

The combined net profit of KB Financial, Shinhan Financial and eight other financial holding firms stood at 15.23 trillion won (US$12.3 billion) in 2019, up 3.59 trillion won from a year earlier, according to the data by the Financial Supervisory Service (FSS).

The average capital adequacy ratio of banks' holding companies stood at 13.54 percent at the end of 2019, down 0.84 percentage point from the end of 2018, the FSS said.

The total assets of the 10 financial holding firms came to 2,628.6 trillion won for 2019, up 27.1 percent from 2018, according to the data.

In 2018, the number of financial holding firms in South Korea stood at nine.

The Financial Supervisory Service (Yonhap)


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