[Anchor]
There are projections that financial holding companies will achieve record-breaking performances in the third quarter of this year. This is attributed to increased demand for last-minute household loans and cost efficiency.
Additionally, expectations for value addition have further bolstered stock prices, which have shown a strong trend.
This is Kim Soo-bin reporting.
[Reporter]
Financial holding companies are anticipated to continue their record-breaking performance with figures in the trillions for the third quarter this year.
According to financial information company FnGuide, the estimated net profit for the third quarter of the four major financial holding companies is expected to reach 4.6504 trillion won, marking an increase of 5.1% from a year ago.
Among these companies, KB Financial is projected to have the highest net profit, followed by Shinhan Financial and Hana Financial.
The robust performance is attributed to the growth in bank loans.
Last September, demand surged for loans prior to the government’s strengthened loan regulations.
According to the Bank of Korea, the outstanding balance of mortgage loans in the banking sector increased by 8.2 trillion won in August, the largest increase recorded since the relevant statistics began to be compiled.
[Financial industry insider]
“As the housing market recovers, household loans have increased, particularly around mortgages. This is expected to positively influence the financial holding companies’ third-quarter performance as it leads to an increase in interest income.”
The sequential increase in loan interest rates during the policy rate cut cycle is also believed to have mitigated the decrease in interest income.
The positive performance and expectations for value-add programs have made financial stocks strong.
In particular, the stock prices of KB Financial and Hana Financial have each risen by double digits this month.
Despite a general selling trend from foreigners, they purchased over 250 billion won worth of the four major financial holding companies.
As of the 24th, starting with KB Financial, financial holding companies will begin announcing their performance results, and attention is focused on the new shareholder return policies to be included in the value-add disclosures.
This is Kim Soo-bin from Yonhap News TV. ([email protected])
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