Korea

Korea Finance Corp. has raised US$750 million by floating dollar-denominated bonds.

Lone Star Funds’ Korea Exchange Bank third-quarter profit declined to 117 billion won or $104 million from a restated 319.3 billion won a year earleir.

The Bank posted a significant 63% drop in its 3Q11 profit after Lone Star Funds announced it would sell its stake to Hana Financial Group.

The Export-Import Bank of Korea raised US$612 million by selling "Uridashi" bonds in Japan.

An institutional caution has been issued and a fine of 54.5 million won or US$49,086 has been slapped against Kookmin Bank for breaching regulations on loans and personal data.

The Industrial Bank of Korea announced that its third-quarter earnings rose 12 percent from a year earlier due to an increase in interest income.

The Associated Chambers of Commerce and Industry insists that stock broking firms should be permitted to operate banks.

South Korean trading firms have been barred from engaging in entrepot trade related to Iranian firms as local state-run banks suspended trade financing in a bid to join U.S.-led economic sanctions against Iran.

Korean banks will be required to put aside cash reserves for won-denominated bonds that come due in less than two years.

Increased interest income and lower credit costs push Woori Finance's third-quarter earnings up 8.3 percent from a year earlier.

Loan delinquency among South Korean banks is lesser in September due to a reduction in new delinquent loans and massive resolution of existing overdue loans.

Yet the results still fell short of analysts’ expectation.

The American company said to have told the FSC it cannot find a way maintain status as KEB's major shareholder.

Reports said Hana Financial had also joined the auction on taking over the suspended lender.

The company awaits regulator to order Lone Star to sell stake in Korea Exchange Bank to discuss deal.

The auction is part of the government's sale of suspended savings banks.