Korea

South Korea's major banks have been charging borrowers higher interest rates over the past few weeks.

Nearly 30 percent of all bank branches in Seoul were found to be concentrated in three wealthy Gangnam areas--the districts of Gangnam, Seocho and Songpa.

Industrial Bank of Korea will open offices or cooperate with banks on all six continents by year-end, according to its CEO Cho Jun-hee.

South Korea's central bank has developed an analysis tool to assess for systemic risks of local banks.

Customer confidence in banking continues to deteriorate in Korea, according to a survey.

Korean banks are intensifying its warnings to customers about a new kind of financial fraud via mobile text messages.

Policy makers of the central bank of South Korea unanimously left unchanged the benchmark 7-day repo rate at 3 percent for September.

Demand for fixed-rate mortgage and credit loans during the summer vacation pushed the rate of household lending among South Korea's bank.

Shinhan Bank raised RMB600 million or US$95 million through dimsum bond sales in Hong Kong.

Hana Financial Group is set to acquire a major stake in an as yet unnamed Indonesian bank to further expand into Indonesia’s robust banking sector.

KB Financial Group, Inc will soon take ownership of the Korean insurance unit of ING Group.

South Korea's Eximbank has signed a cooperation deal with its China's Eximbank to boost bilateral trade.

Delinquency ratio before provisioning of South Korean card companies rose by 0.06 percentage point in the second quarter from the previous quarter.

The economic slowdown and squeezed profit margins are keeping South Korean banks from generating more profit.

South Korean financial firms are implementing pay cuts and layoffs as the global economic slump threatens their profits.

Stricter capital rules under Basel III will be implemented among Korea's banking groups starting next year.