Major local banks are expediting compensation procedures for losses tied to Hong Kong-linked derivative products, with some poised to distribute payments this week. KB Kookmin Bank, the largest seller of equity-linked securities tracking the troubled Hang Seng China Enterprises Index, will officially begin negotiations for voluntary compensation with clients starting Monday, an official from the bank said Sunday. The.
Shinhan Financial Group has reclaimed its position as the leading financial conglomerate in the country for its first-quarter earnings, due mainly to the expansion of corporate loans and improved interest margins.
Five major commercial banks in Korea — KB Kookmin, Shinhan, Hana, Woori, and NH NongHyup — are increasingly at risk of facing lawsuits from customers experiencing escalating losses. These losses stem from the purchase of equity-linked securities (ELS) products linked to Hong Kong s declining benchmark index.
Fears are mounting over the falling revenues of equity-linked funds (ELF) and equity-linked trusts (ELT) tracking Hong Kong s H-Shares Index after some of them - sold by Korean banks - incurred losses of around 4.03 billion won ($3.16 million).
Fears are mounting over the falling revenues of equity-linked funds (ELF) and equity-linked trusts (ELT) tracking Hong Kong s H-Shares Index after some of them - sold by Korean banks - incurred losses of around 4.03 billion won ($3.16 million).