BUSINESS

KDB, Export-Import Bank of Korea return to black in H1

By Yonhap
  • Published : Sept 6, 2017 - 10:55
  • Updated : Sept 6, 2017 - 10:55
South Korea's two state-run policy banks -- Korea Development Bank and the Export-Import Bank of Korea -- bounced back into the black in the first-half of this year with their loan-loss provisions falling as the restructuring of the shipbuilding industry nears an end.

In a regulatory filing on Wednesday, KDB said it posted a net profit of 1.27 trillion won ($1.12 billion) for the January-June period, compared to a loss of 289.6 billion won a year earlier.
 
(Yonhap)

The Export-Import Bank of Korea said in a separate filing that it posted a net profit of 445.3 billion won for the first-half of this year, compared to a loss of 937.9 billion won a year ago.

Loan-loss provisions at KDB fell to 1.32 trillion won for the January-June period, from 3.05 trillion won for the same period in 2016.

The Export-Import Bank of Korea saw its loan-loss provisions fall to 121.7 billion won for the first-half of this year, from 1.67 trillion won a year earlier. (Yonhap)