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[Alpha Biz=(Chicago) Reporter Paul Lee] The Financial Supervisory Service has launched an on-site investigation into KB Kookmin Bank, the largest seller, as the possibility of a loss of ELS due to a sharp fall in the Hong Kong stock market has increased.
According to related industries on the 27th, the Financial Supervisory Service has been investigating KB Kookmin Bank since the 20th to find out the sales status and possible loss of ELS products linked to the Hong Kong H Index. This is because the H index has fallen from 12,000 units in early 2021 to 6,000 points now, raising concerns over losses.
As of the end of June, the balance of ELS sales based on the H index reached 20.5 trillion won. According to data submitted by the Financial Supervisory Service to Yoon Han-hong, a lawmaker of the People's Power, 16 trillion won worth of money was sold through banks.
Of the total, KB Kookmin Bank's sales balance stands at KRW 8.1972 trillion, accounting for about half of the total. Shinhan Bank (2.37 trillion won), NH Nonghyup Bank (2.131 trillion won) and Hana Bank (2.1183 trillion won).
Among KB Kookmin Bank's sales, the ELS balance that entered the loss section (melt, Knock-In) is 4.9288 trillion won, which is worth 4.6434 trillion won in the first half of next year.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
