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Savings banks suffer earnings declines in Q2 due to higher costs

Major savings banks saw earnings nosedive in the second quarter of this year compared to the same period of 2022 due to soaring costs stemming from rising interest rates. ....

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Why is embezzlement continuing at banks?

Questions have arisen over the high number of embezzlement cases involving bank employees in the country. Market watchers point out that binding rules and responsibilities on banks internal control initiatives need to be strengthened, as the financial authorities current non-binding guidelines fall short of changing banks practices. ....

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Shutdown of last-resort lender raises concerns for those needing quick loans

The latest decision by the country s largest private lender to shut down business operations is prompting concerns that financially vulnerable people will have fewer places to a get a quick cash loan. According to industry sources, Thursday, OK Savings Bank recently submitted a request to the financial authorities seeking to acquire Rush and Cash, the No. 1 private money lender, by the end of this year. ....

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Financial authority to respond sternly to malicious market rumors

Korea s top financial regulator has vowed to respond strictly to vicious market rumors intended to cause turbulence in financial markets. Financial Services Commission (FSC) Chairman Kim Joo-hyun stressed Friday that the top financial authority will counter any attempts to cause disruptions by spreading malicious or groundless rumors. ....

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Investment scams on the rise

AsiaToday reporters Lee Joon-young, Kim Hyung-joon, Park Ji-eun Confusion is growing by the recent surge in the number of fraudulent crimes invol.. ....

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