Fitch: Korean banks to remain stable

Fitch Ratings said, in a special report, that while Korean banks saw solid results in 2007, the business environment has weakened since the end of the year. The report focuses on the five major commercial banks, Kookmin Bank (rated A+ with stable view), Shinhan Bank (rated A with stable view), Woori Bank (rated A- with positive view), Hana Bank (rated A- with stable view) and Korea Exchange Bank (rated A- with stable view).

Despite the more challenging business environment, Korean banks are expected to maintain stable credit quality, Fitch said.

The banks are well-poised to weather a moderate economic slowdown and certain degree of deterioration in asset quality, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.