Text Version
RSS Feeds
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  -Text Version
  -RSS Feeds
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
S Korean banks should step up corporate revamp move: financial watchdog
+ -
19:43, September 23, 2009

 Related News
 S Korea ready to reform regulations on bank's foreign currency liquidity
 S Korea's tax revenue to increase by 3.9% in 2010
 S Korean telecom watchdog approves iPhone sales
 S Korean telecom watchdog to decide on approval of iPhone
 S Korea's central bank extends $450 mln loans to local banks
 Comment  Tell A Friend
 Print Format  Save Article
South Korea's top financial regulator said Wednesday local banks should speed up their corporate restructuring move and clear troubled assets to regain financial strength.

"Although corporate revamp drive may seem less imperative amid recent improvements in economic conditions, local assets should keep up with their efforts to make their assets sounder," Financial Supervisory Service Chairman Kim Jong-chang said in a meeting with local bank chiefs.

As of end-June, the ratio of 18 local banks' bad debts, referring to loans overdue more than three months, stood at 1.5 percent to their total lending, rising 0.03 percentage point from three months ago.

Local lenders, required to eliminate distressed assets from their balance sheets, promised the financial watchdog in early August to pull down their bad debt rate under 1 percent by end of this year.

Thus far, the South Korean government has been buying soured assets from banks and companies out of a 20-trillion-won, or 16.7 billion-U.S. dollar, corporate restructuring fund established in July.

Source: Xinhua

  Your Message:   Most Commented:
Indian media stinks up public opinions
World's top ten most mysterious and horrible spots
Which country has the most beautiful women?
Baby alien found by Mexican farmer
How do India's middle school textbooks portray China?

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved