Shinhan, Korea Exchange Bank Beat Profit Estimates as Loan Margins Widen Nov 3, 2009
In 2006, KB Financials Kookmin Bank unit scrapped its plan to buy the smaller rival amid legal probes into the circumstance of Lone Stars 2003 purchase of Korea Exchange Bank. To contact the reporter on this story: in Seoul at. (Bloomberg -- Asia)
S Korea's experiment for helping low income earners Oct 14, 2009
Disputes have already come to the surface among financial firmsas Kookmin Bank and Shinhan Financial Group deciding to go their own ways, establishing separate microcredit lending funds without signing an MOU with the Miso Fund, local dailies said. How much professionalism we can expect from volunteer workers and non-profit organizations is another question, considering the distinctive characteristic of the microcredit lending program. (Xinhuanet, China)
Dump Outperforming Bonds of Rio Tinto, Seek Out Undervalued Debt, BNP Says Aug 29, 2009
Aug. 28 (Bloomberg) -- Investors should buy Dah Sing Bank and commodity supplier s bonds and sell holdings in Rio Tinto Plc, Industrial Bank of Korea and Kookmin Bank, according to BNP Paribas SAs Top Picks list. Enthusiastic sponsorship of Asian cash bonds by real money and retail investors has driven more capital gain and spread compression among all our top picks, leading us to replace some outperformers with rally laggards as well as newer offerings, , BNP Paribass Hong... (Bloomberg -- Asia)
Korean Bank Announces $777 Million Rights Issue Jul 14, 2009
KB Financial, owner of Korea's Kookmin Bank, halves its original deal size, while Singapore-listed Neptune Orient Lines says its $996 million rights offering is oversubscribed ... KB Financial Group, the owner of Korea's Kookmin Bank, late Friday said it plans to raise approximately W1 trillion ($777 million) from an earlier announced rights issue ... The treasury shares that are held by wholly owned subsidiary Kookmin Bank, and which represents 13. (BusinessWeek)
Cyber Attack in South Korea Set to Resume, Says AhnLab Jul 10, 2009
They will include government Web sites and the home pages of the Chosun Ilbo newspaper and Kookmin Bank. A denial of service attack involves sending a massive volume of traffic to a Web site so that it becomes overloaded. (Yahoo News -- Technology)
Korea cyber attacks 'from 16 countries' Jul 10, 2009
A third wave of cyber attacks hit South Korea on Thursday evening, blocking or impeding access to at least seven websites operated by the country's largest bank, Kookmin Bank. Government and media organisations were also hit. (Sydney Morning Herald -- World)
Cyber attacks on SKorea came from 16 countries Jul 10, 2009
" Cyber Storm is a drill against cyber attacks. A third wave of cyber attacks hit South Korea on Thursday evening, blocking or impeding access to at least seven Web sites operated by the country's largest lender Kookmin Bank, government and media organisations. Several Seoul-based portal sites also reported that their mail services underwent temporary access disruptions. "The volume of attacks in a third round of cyber attacks was small and the impact was rather meagre," Park Cheol-Soon, a... (Channelnewsasia.com)
S. Korean Web sites under renewed attack Jul 10, 2009
The Yonhap news agency had earlier reported that the Web site of the leading Kookmin Bank was down for about 30 minutes. Twelve South Korean sites were initially hit Tuesday, followed by strikes Wednesday on 10 others, including those for government offices. (MSNBC -- Technology)
Asian Currencies Post Weekly Decline, Led by Rupiah, as Funds Seek Safety Jun 20, 2009
There was a steady downward pressure on the won this week, said , a currency dealer with Kookmin Bank in Seoul. Nagging concerns about North Korea, albeit not an immediate threat, are adding to the weak sentiment along with foreigners stock sales. (Bloomberg -- Asia)
South Korea Not Ready to Let Banks Repay Recapitalization Funds, Rhee Says Jun 19, 2009
Kookmin Bank, Woori Bank and Hana Bank are among eight financial companies that raised 4 trillion won from the fund, set up amid concerns that South Korean lenders would struggle to refinance overseas debt ... owner of Kookmin Bank, plans to sell as much as $2 billion of stock to existing shareholders. (Bloomberg -- Asia)
Asian Currencies Headed for Weekly Gain, Led by Rupiah, as Recession Eases Jun 5, 2009
The won is experiencing modest upward pressure, said , a currency dealer with Kookmin Bank in Seoul. There are some flows from exporters. (Bloomberg -- Asia)
South Korean Won, Stocks Drop as North Threatens Strike Over Search Pact May 27, 2009
A good performance in U.S. stocks, coupled with month-end export settlements, are lending some support to the won, said , a currency dealer with Kookmin Bank in Seoul. There are still lingering geopolitical concerns linked to the North which will temper any rapid gains in the won. (Bloomberg -- Asia)
South Korean Stocks, Won, Bonds Decline After North Tests Nuclear Weapon May 25, 2009
The won started to slide after the report of the Norths nuclear test, said , a currency dealer with Kookmin Bank in Seoul. Domestic banks are covering dollar shorts en masse and the won may weaken to 1,300 easily in case offshore players join the selling. (Bloomberg -- Asia)
Covered bond legislation seen necessary to jump-start alternative program to TLGP May 8, 2009
South Koreas Kookmin Bank also yesterday launched a debut USD 1bn five-year covered bond, the first for the Asia Pacific region. The (European) market has picked up again from the recent lows. (FT.com -- Markets)
South Korean Banks' Bad Loans Are `Manageable,' Financial Regulator Says May 5, 2009
Kookmin Bank, the countrys biggest, and local rivals posted a 75 percent drop in combined profit in the first three months of the year as provisions for bad debts almost tripled. The latest measure is aimed at preparing in advance for any shock from outside the country, said Kim, who was chief executive officer of state-owned for almost three years until 2004. (Bloomberg -- Asia)
China Airlines, Hero Honda, ICICI, Venture: Asia Ex-Japan Equity Preview May 2, 2009
(105560 KS): The owner of South Koreas biggest bank, Kookmin Bank, posted a bigger-than- estimated 62 percent decline in first-quarter profit as provisions for bad loans more than doubled in a slowing economy. Net income fell to 238. (Bloomberg -- Asia)
KB Financial First-Quarter Profit Slumps 62% as Bad Loans More Than Double Apr 30, 2009
Its Kookmin bank unit was one of South Koreas first lenders to accept from a 20 trillion won state-backed fund this year ... Profit at Kookmin Bank fell 75 percent to 159. (Bloomberg -- Asia)
Korean Won Headed for Fifth Weekly Gain, Longest Winning Streak Since 2007 Apr 10, 2009
The days decline tempered this weeks advance as demand for dollars linked to dividends paid to foreign stock holders emerged in the late session, according to , a currency dealer with Kookmin Bank in Seoul. Bonds Decline. (Bloomberg -- Asia)
Koreans celebrate Kim Yu-na's skating victory Mar 30, 2009
Corporations including Hyundai Motor Co. and Kookmin Bank took out large newspaper ads congratulating the university student on her win. Even President Lee Myung-bak joined in the congratulations, telling Kim in a phone conversation after the championships that he had watched her compete. (OregonLive, OR -- Sports)
Woori says it will tap recapitalization fund Feb 17, 2009
Woori, the largest South Korean lender by assets after Kookmin Bank, is the first bank in the country to make public its plan to tap the fund. The four biggest South Korean banks - Kookmin, Woori, Shinhan and Hana - and five other lenders agreed Sunday to roll over loans to small and medium-sized enterprises, or SMEs, that mature this year and to make full use of the recapitalization fund. (International Herald Tribune -- Business)
Woori Bank Plans to Draw $1.4 Billion From State's Recapitalization Fund Feb 16, 2009
98 percent at local rival Kookmin Bank and 9. 3 percent at Shinhan Bank. (Bloomberg -- Asia)
Seoul shares fall on caution before rate decision Feb 12, 2009
75 per cent after its commercial banking unit Kookmin Bank said on Wednesday it swung to a 318. 5 billion won ($229 million) net loss in the fourth quarter, its first quarterly shortfall in four years, as it had to book an additional charge to cover its exposure to ailing manufacturers. (India Times)
South Korea Cuts Interest Rate to Record-Low 2% as Economy Nears Recession Feb 12, 2009
Kookmin Bank, South Koreas biggest lender, posted a quarterly loss yesterday. To contact the reporter on this story: in Seoul at. (Bloomberg -- Asia)
Asia stocks fall amid skepticism over US bank plan Feb 11, 2009
KB Financial Group Inc., the holding company for top South Korean lender Kookmin Bank, tumbled 3. 8 percent. (Anchorage Daily News)
Moody's cuts ratings on 8 SKorean banks Feb 9, 2009
Kookmin Bank, Shinhan Bank, Woori Bank, Hana Bank, the National Agriculture Cooperative Federation, the Industrial Bank of Korea, Korea Development Bank and the Export-Import Bank of Korea all had their foreign currency long-term senior debt ratings lowered to A2, Moody's said in a statement. The agency said the downgrades reflect its opinion that the banks' ratings "should be more aligned" with the Korean government's A2 foreign currency bond rating. (International Herald Tribune -- Travel)
Excel version Feb 8, 2009
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