Six South Korean banks have been included on the world’s top 100 banks list but they appear to have a higher dependence on loans than their global peers.
According to Bankscope, a global bank statistics Web site, KB Financial Group, Shinhan Financial Group, Hana Financial Group, Woori Bank, Nonghyup and the Industrial Bank of Korea were included on the world’s top 100 banks list revealed on Monday.
The U.S. led the list with 20 banks, while China had ten. South Korea had six, the same number as Canada, although none were included in the top 50.
The proportion of loans in South Korean banks’ assets averaged about 68 percent, compared to the 53 percent averaged by the 100 banks on the list.
The average return on equity for the 100 banks was nine-point-56 percent while the average return on assets was zero-point-75 percent. The average return on equity and return on assets for South Korean banks was five-point-56 percent and zero-point-43 percent, respectively.
But the proportion of non-performing loans among South Korean banks was one-point-45 percent, a figure smaller than the entire average of three-point-58 percent.