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The Korea Herald
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THE INVESTOR
March 29, 2024

Finance

Market cap of leading banks rises

  • PUBLISHED :December 26, 2016 - 10:36
  • UPDATED :December 26, 2016 - 10:39
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[THE INVESTOR] The market capitalization of South Korea’s leading banks has increased this year, according to data on Dec. 26.

The combined value of six major lenders’ listed shares jumped to 69.5 trillion won (US$57.80billion) as of last Friday, up 28.5 percent from the end of last year, according to FnGuide, a financial information service provider here.

They include Woori Bank, Hana Financial, KB Financial, Shinhan Financial,Industrial Bank of Korea and BNK Financial.

“Improved earnings (by the banks) this year have played the biggest role in the rise of their share prices,” said Lee Byung-kun, a Dongbu Securities analyst.

In particular, the share price of Woori Bank almost doubled to 13,000 won on more profits and expectations of a successful privatization. The government recently signed a deal with seven local institutional investors on the sale of its 30-percent stake in the bank. Woori’s market cap swelled 50 percent to 8.95 trillion won, rising to rank fourth in South Korea’s banking industry.

Shinhan Financial ranked at the top with 22.2 trillion won followed by KB Financial and Hana Financial with 18.2 trillion won and 9.7 trillion won, respectively.

(theinvestor@heraldcorp.com)

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