Consumer financing firms' profit soars in H1 on stock rally
SEOUL, Sept. 16 (Yonhap) -- Consumer financing firms in South Korea saw their combined net profit jump 50 percent on-year in the first half, supported by strong gains from stock rallies and a modest gain in interest income, data showed Thursday.
The combined net profit of 114 credit-specialized financial firms stood at 1.99 trillion won (US$1.69 billion) in the first half, compared with a profit of 1.33 trillion won a year earlier, according to the data by the Financial Supervisory Service (FSS).
Their interest income rose 7.7 percent on-year to 3.3 trillion won in the first half, the data showed.
Loan-loss provisions fell 18 percent on-year to 547.4 billion won in the first half, according to the data.
The combined assets of those firms climbed 13.1 percent on-year to 193.6 trillion won at the end of June, the data showed.
The FSS has urged consumer financing firms to improve risk assessment processes amid financial uncertainties at home and abroad.
kdh@yna.co.kr
(END)
-
S. Korea expresses deep regret over Japanese PM's offering to war shrine
-
(LEAD) Yoon pledges to improve ties with Japan, offers economic aid in exchange for N.K. denuclearization
-
(LEAD) Bill Gates calls for S. Korea to play leading role in global health cooperation
-
DP warns Yoon's Liberation Day speech will give 'wrong signal' to Japan
-
(LEAD) Ex-ruling party chief files another lawsuit against leadership switch
-
(LEAD) Yoon pledges to improve ties with Japan, offers economic aid in exchange for N.K. denuclearization
-
Ex-ruling party chair takes swipe at Yoon amid legal action over leadership switch
-
(LEAD) Ex-ruling party chief files another lawsuit against leadership switch
-
Today in Korean history
-
(LEAD) DP drops party charter revision proposal
-
U.S. agrees with taking 'incremental steps' to denuclearize Korean Peninsula: State Dept.
-
Clash of 2 S. Koreans on horizon in Premier League
-
Supreme Court expected to decide soon whether to finalize liquidation order against Mitsubishi
-
Busan mayor proposes allowing alternative military services for BTS
-
S. Korea's new COVID-19 cases fall below 140,000; death toll hits 3-month high