Banks reap record profits

입력 2025.02.04 (23:57)

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[Anchor]

The profits of the four major financial groups gained last year are expected to be the highest ever.

However, one might wonder if this can continue.

This is because they are making money through easy interest business with high loan rates and low deposit rates, leading to a bonus feast.

First, reporter Song Soo-jin.

[Report]

In the fourth quarter of last year, the base rate was lowered consecutively twice.

[Lee Chang-yong/Bank of Korea Governor/Oct. 2024: "The economic growth rate itself is not significantly higher than the potential growth rate...."]

[Lee Chang-yong/Bank of Korea Governor/Nov. 2024: "We must prepare for a significant decline in the warming effect spreading from exports to domestic demand…."]

Did deposit and loan rates also decrease too?

While the one-year fixed deposit rate dropped following the base rate cut, the variable-rate mortgage loan interest rate actually increased.

This was the reason consumers found it hard to feel the rate cuts, but it translated into results for the banks.

Today (2.4), Hana Financial Group announced a record net profit of 3.7 trillion won.

Kookmin, Shinhan, and Woori will announce their results in turn this week, and the combined net profit of the four major financial groups is expected to reach 16 trillion to 17 trillion won, also a record high.

After paying dividends and taxes, the net profit accumulates as capital for financial institutions.

While the capital adequacy ratio improves and lending capacity increases, the problem is that most of the profits come from interest business.

[Lee Dae-ki/Research Fellow, Korea Institute of Finance: "We need to generate profits from other areas (besides interest income), but it is not easy to take on risks, so it is difficult to be proactive."]

Rather than reducing interest business, they have gone even further.

Last year, some banks reduced 'corporate loans' without reporting to the board in order to increase the profitable 'household loans.'

The record net profit of banks is leading to a bonus feast, with some expected to receive up to 280% of their base salary.

KBS News, Song Soo-jin.

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  • Banks reap record profits
    • 입력 2025-02-04 23:57:51
    News 9
[Anchor]

The profits of the four major financial groups gained last year are expected to be the highest ever.

However, one might wonder if this can continue.

This is because they are making money through easy interest business with high loan rates and low deposit rates, leading to a bonus feast.

First, reporter Song Soo-jin.

[Report]

In the fourth quarter of last year, the base rate was lowered consecutively twice.

[Lee Chang-yong/Bank of Korea Governor/Oct. 2024: "The economic growth rate itself is not significantly higher than the potential growth rate...."]

[Lee Chang-yong/Bank of Korea Governor/Nov. 2024: "We must prepare for a significant decline in the warming effect spreading from exports to domestic demand…."]

Did deposit and loan rates also decrease too?

While the one-year fixed deposit rate dropped following the base rate cut, the variable-rate mortgage loan interest rate actually increased.

This was the reason consumers found it hard to feel the rate cuts, but it translated into results for the banks.

Today (2.4), Hana Financial Group announced a record net profit of 3.7 trillion won.

Kookmin, Shinhan, and Woori will announce their results in turn this week, and the combined net profit of the four major financial groups is expected to reach 16 trillion to 17 trillion won, also a record high.

After paying dividends and taxes, the net profit accumulates as capital for financial institutions.

While the capital adequacy ratio improves and lending capacity increases, the problem is that most of the profits come from interest business.

[Lee Dae-ki/Research Fellow, Korea Institute of Finance: "We need to generate profits from other areas (besides interest income), but it is not easy to take on risks, so it is difficult to be proactive."]

Rather than reducing interest business, they have gone even further.

Last year, some banks reduced 'corporate loans' without reporting to the board in order to increase the profitable 'household loans.'

The record net profit of banks is leading to a bonus feast, with some expected to receive up to 280% of their base salary.

KBS News, Song Soo-jin.

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