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The five major banks have exceeded an agreement to compensate over 5,000 cases of losses from ELS sales in Hong Kong.

Business / Kim SangJin / 06/03/2024 04:20 AM

[Alpha Biz= Reporter Kim Sangjin]

 

[Alpha Biz= Reporter Kim Sangjin] According to financial sources on the 3rd, major domestic banks and investors have exceeded 5,000 cases of voluntary compensation agreements regarding Hong Kong's H-Index Linked Securities (ELS).

The five major banks (KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup) have reached voluntary compensation agreements with investors for a total of 5,323 cases of H-Index ELS losses.

KB Kookmin Bank, which sold the most products, began voluntary compensation negotiations for around 6,300 ELS loss accounts (including early termination) reaching maturity in January this year, starting from the 27th of last month. By the 30th of last month, they completed compensation for 3,569 cases.

As of the 30th, Shinhan Bank had reached agreements for 992 cases. NH Nonghyup Bank also began accepting applications for voluntary compensation adjustments on the 21st of last month and completed negotiations and payments for 556 cases by the 30th.

 

 

 

AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)

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