Business Services Industry
SOUTH KOREA'S TOP BANKS REPORT ASSET REDUCTIONS.
AsiaPulse News, November, 2003
SEOUL, Nov 17 Asia Pulse - South Korea's big-three banks reported slight reductions in assets this year after shifting focus to profitability rather than external growth, industry figures showed yesterday.
The nation's three-largest lenders - Kookmin Bank (KSE:060000), Woori Bank and Hana Bank - said their assets contracted between the second and third quarters, largely due to revised management strategies and an exodus of short-term capital to investment trust companies.
By contrast, Shinhan, Korea First, and Korea Exchange banks, as well as other mid-ranking lenders, reported substantial asset gains, narrowing the market-share gap with the industry leaders.
Kookmin Bank, South Korea's largest lender, said its aggregate assets, excluding that of...
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