Insolvency, Restructuring Feared to Undermine Banks’ Soundness – BusinessKorea
Corporate restructuring was the main culprit behind a drop of 40 percent in Korean banks business performances last year. Financial regulators explained that bad account cost from the restructuring of shipbuilders such as STX Shipbuilding weakened banks profitability last year. Last year, Korean banks posted 3.5 trillion won in net income, a drop of 42.6…