S. Korean banks' overseas earnings gain 1.4 pct in first half
22/8/2008 17:20
Earnings of South Korean banks from overseas operations gained 1.4 percent
in the first half from a year earlier on the back of higher interest income, the
nation's Financial Supervisory Service (FSS) said today.
According to the
FSS, during the first half, the total net profit of 120 overseas operations in
31 countries by nine local lenders reached US$253.9 million, up US$3.6 million
from a year ago.
The earnings gain mainly came from the increase of interest
income which gained US$102.8 million year-on-year to 398. 9 US$US million, the
FSS said.
The banks' combined assets stood at US$53 billion as of the end of
June, gaining 13.5 percent from the previous year, the FSS added.
The South
Korean financial dog said as global economic downturn may damage the financial
health of local banks that operate overseas it plans to monitor them closer in
the future.
Xinhua
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