Financial holding company's total assets increased by 6.7%. Interest income from the banking sector has increased significantly
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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hoondork1977@alphabiz.co.kr | 2023-04-10 02:54:13
[Alpha Biz=(Chicago) Reporter Paul Lee] As of the end of last year, the total assets of financial holding companies reached KRW 3,418.2 trillion, up 6.7% (KRW 214.9 trillion) from a year ago. Commission income in the financial investment sector fell last year due to the stock market slump, but it posted good performance as interest income in the banking sector expanded significantly.
However, it was pointed out that the possibility of credit loss expansion in the future should be noted as the fixed interest rate rose 0.2% point year-on-year.
The Financial Supervisory Service (FSS) announced the '2022 Financial Holding Company Management Performance (provisional, consolidated basis)' on the 9th. As of the end of last year, there were 10 financial holding companies (KB, Shinhan, Nonghyup, One We, BNK, DGB, JB, Hantu Meritz), The number of affiliated companies, including subsidiaries, is 316.
As of the end of last year, the combined assets of financial holding companies stood at 3,418.2 trillion won, up 6.7 percent (214.9 trillion won) from the end of last year, according to the Financial Supervisory Service.
By subsidiary region, banks increased 7.4% (KRW 177.4 trillion), financial investment 0.5% (KRW 1.7 trillion), and credit card companies increased 14% (KRW 28.5 trillion), while insurance decreased 0.8% (KRW 2 trillion).
During the same period, the consolidated net profit of financial holding companies rose 1.3 percent (283.2 billion won) year-on-year to 21.472 trillion won.
By region, banks increased by 14.6% (KRW 857.1 billion), while insurance and loan companies also increased by 14.9% (KRW 301.3 billion) and 2.1% (KRW 76.2 billion), respectively. On the other hand, financial investment fell 10.8% (543.9 billion won) year-on-year.
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