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The Korea Herald
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THE INVESTOR
March 29, 2024

Finance

Savings banks’ net profit up 14% in Q1

  • PUBLISHED :June 02, 2017 - 10:45
  • UPDATED :June 02, 2017 - 10:45
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[THE INVESTOR] The combined net profit of 79 savings banks rose 13.6 percent on-year in the first quarter, data showed June 2.

Preliminary net profit of savings banks stood at 249.6 billion won (US$222 million) for the January-March period, according to the data by the Financial Supervisory Service.

During the quarter, their interest income jumped by 135.5 billion won, while loan-loss provisions increased by 52.9 billion won, the data showed.

The average capital adequacy ratio of the savings banks edged down by 0.07 percentage point to 13.88 percent at the end of March. 

By Alex Lee and newswires (alexlee@heraldcorp.com)

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