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BOK Chief Ready to Minimize Impact of Corporate Restructuring

Written: 2016-04-22 09:25:11Updated: 2016-04-22 09:30:25

BOK Chief Ready to Minimize Impact of Corporate Restructuring

Bank of Korea(BOK) Governor Lee Ju-yeol has vowed to use diverse policies to actively deal with possible unrest in the financial market in the process of the government’s corporate restructuring.

The BOK chief made the vow on Friday during a monthly breakfast meeting with officials from top commercial banks.

Lee said that a contraction in net interest margins and poor corporate performances are feared to have negative effects on bank profits and asset soundness.

He said that under the circumstances, conditions for banks may further worsen once the government’s drive for corporate restructuring goes into full swing. Lee, however, added that the banks will overcome new difficulties as their capacities to absorb losses remain strong.

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