Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Contentious grain bill put directly to plenary meeting for vote

    Contentious grain bill put directly to plenary meeting for vote
  2. 2

    Yoon's approval rating plunges to all-time low

    Yoon's approval rating plunges to all-time low
  3. 3

    Will tug-of-war between doctors, government end soon?

    Will tug-of-war between doctors, government end soon?
  4. 4

    Climate impacts set to cut 2050 global GDP by nearly a fifth

    Climate impacts set to cut 2050 global GDP by nearly a fifth
  5. 5

    Trilateral talks acknowledge ‘serious’ slumps of won, yen

    Trilateral talks acknowledge ‘serious’ slumps of won, yen
  1. 6

    [Graphic News] More Koreans say they plan long-distance trips this year

    [Graphic News] More Koreans say they plan long-distance trips this year
  2. 7

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs

    [KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
  3. 8

    North Korea removes streetlights along cross-border roads with South

    North Korea removes streetlights along cross-border roads with South
  4. 9

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official

    Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
  5. 10

    Farming households dip below 1m for first time in 2023

    Farming households dip below 1m for first time in 2023
소아쌤

Credit unions see combined profit slightly fall in H1

By Yonhap

Published : Sept. 5, 2017 - 10:09

    • Link copied

South Korea's credit unions, or member-owned financial cooperatives, saw their combined net profit fall 1.3 percent on year for the first half of this year, due to a rise in loan-loss provisions, data showed Tuesday.

The combined net profit of 2,258 credit unions, including Nonghyup and Suhyup banks, stood at 1.21 trillion won ($1.06 billion) for the January-June period, down 16.1 billion won from a year earlier, according to the data by the Financial Supervisory Service.

Their combined loan-loss provisions jumped 131.2 percent on year to 198.7 billion won for the first six months of this year, the data showed. 


(Yonhap) (Yonhap)

As of the end of June, the average delinquency rate of loans extended by the credit unions rose 0.15 percentage point from six months ago to 1.39 percent, according to the latest findings.

From April this year, financial authorities required second-tier banks to set aside more loan-loss provisions, in a move to curb high-risk home lending.

The tougher rule was applied to home loans by savings banks, Nonghyup and Suhyup banks, and other mutual savings banks that can charge more than 20 percent interest per annum. (Yonhap)

More from Headlines