Business
Net profit of Korean banks' overseas branches edges up in 2019

Net profit of Korean banks' overseas branches edges up in 2019

Mar 25, 2020

Seoul (South Korea) March 25: Overseas branches of South Korean banks saw their combined net profit edge up 0.4 percent on-year to US$988 million in 2019, data showed Wednesday.
The figure accounted for 7.9 percent of the combined net profit of banks operating in South Korea last year, according to the data by the Financial Supervisory Service (FSS).
The combined interest income at 195 overseas branches gained 9.4 percent on-year to $2.06 billion, the data showed.
Their average non-performing loan ratio stood at 0.63 percent at the end of last year, compared with an average ratio of 0.77 percent for banks operating in South Korea.
At the end of last year, the total assets of overseas branches stood at $133.69 billion, up 16.4 percent from a year earlier, according to the data.
Source: Yonhap News