Still banking on Kookmin

Article Abstract:

Kookmin Bank's shares have gained by 6% since hitting the year's low of 11,500 won ($13.23) on Jan 6, 1997. The company survived the downgrading of ratings at Korean banks by international agencies following the bankruptcy of Hanbo Steel. This is because the bank lends mostly to individuals and small- or mid-sized companies, which account for 98% of its portfolio. At 12,000 won ($13.23), its local shares were just trading at 5.4 times projected per-share earnings in 1997.

Securities

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Emerging from a storm?

Article Abstract:

Kookmin Bank and Shinhan Bank, both of South Korea, may most likely emerge unharmed over the long term following the government's decision to close unprofitable banks. Meanwhile, a plan entails the two banks to each absorb one bank. This may likely mean assuming potentially bad loans, and taking on extra personnel and branches. Nonetheless, some analysts maintain that the two banks have strong long-term essentials such as low bad-debt portfolios and sound management.

Shinhan Bank

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International creditors finalize debt-restructuring deal

Article Abstract:

The international creditors have reached an agreement with South Korea to restructure majority of the foreign-currency debts of the country's banks and treat them as longer-term government-backed credit. Under the agreement, some $24 billion in loans to South Korean banks will have floating interest rates of 2.25% to 2.75% in the form of transferable loan certificates. The program was formulated to helped stabilize the declining stock market and currency situation.

Public Finance Activities, Administration of General Economic Programs, Fiscal Policy, Currency Stabilization Programs, Intnl Banking Services, International Trade Financing, Finance, Economic policy, External debts, Currency stabilization, International banking, International financial institutions

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