Foreign banks in South Korea see earnings fall in 2021

Fee and commission income shrank by over 230% during the fiscal year.

Foreign banks operating in South Korea generated a total net income of over $901.41m (KRW1.14t) in the financial year 2021, a decrease of 4.5% or $42.3m (KRW53.5b) compared to the previous fiscal year, according to data released by the Financial Supervisory Service (FSS).

Whilst their interest income grew KRW303.4b, non-interest income fell by KRW445.5b year on year. Meanwhile, return on assets (ROA) stood at 0.35%, down 0.02 percentage point (ppt) from a year ago.

Interest income of the 35 foreign bank branches in Korea came in at KRW1.85t for FY2021, a 19.5% or KRW303.4b increase compared to FY2020.

This was offset by branches’ fee and commission income contracting 233.5% to a minus KRW33.6b during the same period.

Securities-related losses also surged 378.6% to over minus KRW1.04t.

Meanwhile, loan loss provisions of the branches shrank from KRW128.3b to minus
KRW9.9b during the same period.

(US$1 = KRW 1264.35)

Follow the link for more news on

South Korea bank income

Also Read

Bangkok Bank logs net profit of $1.05b for 9M 2024

Banks face value creation challenge despite record revenues

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit