KEB Q4 net falls 22.8 %

Korea Exchange Bank's earnings sank 22.8 percent in the fourth quarter from a year earlier due to a non-interest loss and rising costs.

Net income came in at US$214 million in the October-December period, compared with 306.4 billion won the previous year, the bank said in a regulatory filing.

But KEB's fourth-quarter earnings were better than a market consensus of 210.5 billion won compiled by Yonhap Infomax, the financial news arm of Yonhap News Agency.

Compared with three months earlier, the lender's net profit fell 18.5 percent as it booked a one-off gain of 87.3 billion won by selling its stakes in Hynix Semiconductor Inc. in the third quarter.

For all of 2010, its net profit rose 18.4 percent on-year to 1.06 trillion won.

"A gain in the 2010 earnings came as total income was on the rise and credit costs were reduced," the bank said in a statement.

KEB's net interest margin, a gauge of profitability, came in at 2.82 percent in the fourth quarter, up from 2.5 percent seen in the third quarter as the central bank had started to raise the key rate.

Follow the link for more news on

Also Read

Cambodia enables QR payments from foreign e-wallets through Alipay+

Hong Kong to rename ‘virtual banks’ to ‘digital banks’

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit