manuel.marche
Nuovo forumer
Qualcuno conosce queste banche coreane??
Ogni notizia è ben accetta...
- Kookmin Bank
- Woori Bank
- Hana Bank
Banche Coreane
- Creatore Discussione manuel.marche
- Data di Inizio
Qualcuno conosce queste banche coreane??
Ogni notizia è ben accetta...
- Kookmin Bank
- Woori Bank
- Hana Bank
manuel.marche
Nuovo forumer
MA ALLORA NESSUNO MI SA DIRE...CHE PECCATO...
gipa69
collegio dei patafisici
Monday October 29, 11:25 AM
SKorea's Kookmin Bank Q3 net profit jumps 14 pct, beats forecast - UPDATE2
SEOUL (Thomson Financial) - Top South Korean lender Kookmin Bank (060000.KS - news) reported Monday a 14 percent increase in net profit for the third quarter, thanks to gains from the sale of a stake in an insurance unit.
Kookmin Bank said third-quarter net profit rose to 775 billion won from 678 billion won a year earlier, beating the market's consensus estimate of 756.9 billion won.
The third-quarter profit more than tripled from the second quarter's 236.3 billion won, when the company was hit by back taxes of 482 billion won.
In September, Kookmin sold a 5.1 percent stake in the unlisted local insurance unit of ING Groep NV (Amsterdam: INGA.AS - news) back to the Dutch financial services firm for 194 billion won as part of an earlier agreement.
The South Korean bank still holds 14.9 percent of ING Life Korea after the sale.
'If one-off factors, such as the stake sale, are excluded, we have been booking a similar level of earnings,' the company said in a statement.
Analysts said this pointed to stalled growth momentum at the nation's top bank, and that a dramatic earnings recovery appears to be a long shot given squeezed margins and the company's lack of a clear blueprint for future growth.
Shrinking margins
Kookmin said interest income expanded to 1.73 trillion won in the third quarter from 1.67 trillion won a year earlier largely on increased lending.
But net interest margin (NIM) -- a key industry gauge of profitability -- dipped to 3.33 percent in the third quarter from 3.59 percent a year earlier and 3.48 percent in the second quarter.
The margin has been declining because the stiff competition in the loan market has prevented banks, including Kookmin, from hiking interest rates as much as they want, while funding costs increased as a growing number of customers shifted to higher-yielding accounts by brokerage houses.
A smaller rival, Hana Financial Group, has seen its NIM drop to 2.30 percent in the third quarter
from 2.31 percent in the second. The group includes the nation's fourth largest bank, Hana Bank.
Kookmin's total assets stood at 213 trillion won at end September, compared to 206.9 trillion won at end-June and 195.2 trillion won at end-December, due to its push to boost corporate loans at the expense of margins.
'The third-quarter result was better than our forecast of 740 billion won but it is still disappointing...and Kookmin's NIM is likely to continue to fall for a while,' said Choi Jong-Won, an analyst at Tongyang Investment Bank.
Kookmin Bank vice president Shin Kap also acknowledges that 'the margin decline would be sustained.'
Choi blamed the increased ratio of low-margin corporate loans, plus only limited growth in profitable mortgage loans amid a housing market correction, for the disappointing NIM result.
No strong catalysts for the stock are seen in coming months, he said.
Unexciting outlook
Kookmin Bank president Kang Chung-Won said the bank will make a final decision before the year is over as to whether it will buy a local brokerage house or set up a new one, once regulatory approval is obtained.
According to local reports, the lender appears to be in talks to purchase small local brokerage firm Hannuri Investment & Securities.
Kang also made it clear that the bank will enter the consumer credit business as early as possible.
But JP Hong, an analyst at Goodmorning Shinhan Securities, was less optimistic about the bank's move to diversify.
'Even if those operations are added to its portfolio, contributions to overall earnings would be pretty marginal... and Kookmin is not likely to aggressively pursue growth of its flagship banking operation as well,' Hong said.
'If you take out the one-off factors, it is fair to say the bank's earnings have stalled in recent years and management does not appear to have a strong will to find a new, strong growth engine,' he said.
While the longer-term outlook for Kookmin's shares is unexciting, Hong said the stock will likely outperform in the short-term ahead of dividend payouts and with investors comforted to some extent by the company's plan to adopt a holding company system.
Kookmin Bank said it plans to maintain an annual dividend payout policy of 30 percent.
Ahead of the earnings announcement, Kookmin Bank shares finished up 3,000 won or 4.0 percent at 77,400 won on Monday.
Its share price has dropped by 6 percent during the third quarter while the main KOSPI index rose 11.6 percent.
SKorea's Kookmin Bank Q3 net profit jumps 14 pct, beats forecast - UPDATE2
SEOUL (Thomson Financial) - Top South Korean lender Kookmin Bank (060000.KS - news) reported Monday a 14 percent increase in net profit for the third quarter, thanks to gains from the sale of a stake in an insurance unit.
Kookmin Bank said third-quarter net profit rose to 775 billion won from 678 billion won a year earlier, beating the market's consensus estimate of 756.9 billion won.
The third-quarter profit more than tripled from the second quarter's 236.3 billion won, when the company was hit by back taxes of 482 billion won.
In September, Kookmin sold a 5.1 percent stake in the unlisted local insurance unit of ING Groep NV (Amsterdam: INGA.AS - news) back to the Dutch financial services firm for 194 billion won as part of an earlier agreement.
The South Korean bank still holds 14.9 percent of ING Life Korea after the sale.
'If one-off factors, such as the stake sale, are excluded, we have been booking a similar level of earnings,' the company said in a statement.
Analysts said this pointed to stalled growth momentum at the nation's top bank, and that a dramatic earnings recovery appears to be a long shot given squeezed margins and the company's lack of a clear blueprint for future growth.
Shrinking margins
Kookmin said interest income expanded to 1.73 trillion won in the third quarter from 1.67 trillion won a year earlier largely on increased lending.
But net interest margin (NIM) -- a key industry gauge of profitability -- dipped to 3.33 percent in the third quarter from 3.59 percent a year earlier and 3.48 percent in the second quarter.
The margin has been declining because the stiff competition in the loan market has prevented banks, including Kookmin, from hiking interest rates as much as they want, while funding costs increased as a growing number of customers shifted to higher-yielding accounts by brokerage houses.
A smaller rival, Hana Financial Group, has seen its NIM drop to 2.30 percent in the third quarter
from 2.31 percent in the second. The group includes the nation's fourth largest bank, Hana Bank.
Kookmin's total assets stood at 213 trillion won at end September, compared to 206.9 trillion won at end-June and 195.2 trillion won at end-December, due to its push to boost corporate loans at the expense of margins.
'The third-quarter result was better than our forecast of 740 billion won but it is still disappointing...and Kookmin's NIM is likely to continue to fall for a while,' said Choi Jong-Won, an analyst at Tongyang Investment Bank.
Kookmin Bank vice president Shin Kap also acknowledges that 'the margin decline would be sustained.'
Choi blamed the increased ratio of low-margin corporate loans, plus only limited growth in profitable mortgage loans amid a housing market correction, for the disappointing NIM result.
No strong catalysts for the stock are seen in coming months, he said.
Unexciting outlook
Kookmin Bank president Kang Chung-Won said the bank will make a final decision before the year is over as to whether it will buy a local brokerage house or set up a new one, once regulatory approval is obtained.
According to local reports, the lender appears to be in talks to purchase small local brokerage firm Hannuri Investment & Securities.
Kang also made it clear that the bank will enter the consumer credit business as early as possible.
But JP Hong, an analyst at Goodmorning Shinhan Securities, was less optimistic about the bank's move to diversify.
'Even if those operations are added to its portfolio, contributions to overall earnings would be pretty marginal... and Kookmin is not likely to aggressively pursue growth of its flagship banking operation as well,' Hong said.
'If you take out the one-off factors, it is fair to say the bank's earnings have stalled in recent years and management does not appear to have a strong will to find a new, strong growth engine,' he said.
While the longer-term outlook for Kookmin's shares is unexciting, Hong said the stock will likely outperform in the short-term ahead of dividend payouts and with investors comforted to some extent by the company's plan to adopt a holding company system.
Kookmin Bank said it plans to maintain an annual dividend payout policy of 30 percent.
Ahead of the earnings announcement, Kookmin Bank shares finished up 3,000 won or 4.0 percent at 77,400 won on Monday.
Its share price has dropped by 6 percent during the third quarter while the main KOSPI index rose 11.6 percent.
gipa69
collegio dei patafisici
Korea's Hana Financial Group reported a 59 percent jump in quarterly profit on Friday, as the proceeds from the sale of a stake in its asset management unit outweighed weaker interest margins.
The country's No. 4 banking group booked handsome gains in the September quarter, after it sold a 51 percent stake in one of the country's top asset managers to UBS for 180 billion won in May.
But Bank of Korea interest rate rises in July and August to a six-year high of 5.0 percent weighed on lenders as they were unable to pass on higher borrowing costs to customers who have been shifting to high-yielding brokerage accounts.
Hana, South Korea's No. 4 banking group in which Singapore Temasek Holdings [TEM.UL] and Goldman Sachs own a combined 19 percent stake, earned 399.9 billion won in the quarter ended September.
That compared with a revised 251.8 billion won a year before and 272.4 billion won in the second quarter. It beat an average forecast of 333.9 billion won by five analysts surveyed by Reuters.
Shares of Hana fell 0.48 percent to close at 41,400 won ahead of the earnings announcement, against a 1.75 percent drop in the benchmark index.
Hana Bank's net interest margin , a key gauge of profitability, dipped to 2.27 percent at the end of September from 2.31 percent three months before. But the pace of falls has been slow since its double-digit lending expansion in 2006 translated into sharp margin contractions.
Hana Financial CEO Yoon Kyo-joong told Reuters in August that the group was looking at around 2.2 percent NIM for this year.
To diversify earnings structure, the group has recently advanced into the instalment financing business for used cars and been beefing up its two securities firms with capital injection.
The group derives more than 80 percent of earnings from Hana Bank.
Hana also has been in talks to buy stakes in small-sized overseas banks in Indonesia and Los Angeles, the United States.
However, analysts worry about a possible back tax payment for Hana, after the Maeil Business Newspaper reported in September the financial group may be face around 1.3 trillion won in unpaid taxes, citing unnamed government and industry sources..
The tax issue is related to its 2002 acquisition of nationalised Seoul Bank. But Hana had dismissed the report as groundless.
Hana, with $150 billion of assets, kicked off the third quarter earnings season for major Korean banks. Kookmin Bank is next with earnings on Oct. 29 and third-ranked Woori Financial Group follows on Nov. 1.
Hana stock had eased 0.4 percent in the third quarter, amid concerns about slow loan growth at local banks and the impact of U.S. subprime mortgage woes. The wider market was up 11.6 percent in that period.
The country's No. 4 banking group booked handsome gains in the September quarter, after it sold a 51 percent stake in one of the country's top asset managers to UBS for 180 billion won in May.
But Bank of Korea interest rate rises in July and August to a six-year high of 5.0 percent weighed on lenders as they were unable to pass on higher borrowing costs to customers who have been shifting to high-yielding brokerage accounts.
Hana, South Korea's No. 4 banking group in which Singapore Temasek Holdings [TEM.UL] and Goldman Sachs own a combined 19 percent stake, earned 399.9 billion won in the quarter ended September.
That compared with a revised 251.8 billion won a year before and 272.4 billion won in the second quarter. It beat an average forecast of 333.9 billion won by five analysts surveyed by Reuters.
Shares of Hana fell 0.48 percent to close at 41,400 won ahead of the earnings announcement, against a 1.75 percent drop in the benchmark index.
Hana Bank's net interest margin , a key gauge of profitability, dipped to 2.27 percent at the end of September from 2.31 percent three months before. But the pace of falls has been slow since its double-digit lending expansion in 2006 translated into sharp margin contractions.
Hana Financial CEO Yoon Kyo-joong told Reuters in August that the group was looking at around 2.2 percent NIM for this year.
To diversify earnings structure, the group has recently advanced into the instalment financing business for used cars and been beefing up its two securities firms with capital injection.
The group derives more than 80 percent of earnings from Hana Bank.
Hana also has been in talks to buy stakes in small-sized overseas banks in Indonesia and Los Angeles, the United States.
However, analysts worry about a possible back tax payment for Hana, after the Maeil Business Newspaper reported in September the financial group may be face around 1.3 trillion won in unpaid taxes, citing unnamed government and industry sources..
The tax issue is related to its 2002 acquisition of nationalised Seoul Bank. But Hana had dismissed the report as groundless.
Hana, with $150 billion of assets, kicked off the third quarter earnings season for major Korean banks. Kookmin Bank is next with earnings on Oct. 29 and third-ranked Woori Financial Group follows on Nov. 1.
Hana stock had eased 0.4 percent in the third quarter, amid concerns about slow loan growth at local banks and the impact of U.S. subprime mortgage woes. The wider market was up 11.6 percent in that period.
manuel.marche
Nuovo forumer
OTTIMO MA IL MIO INGLESE è OUT!!!
GIA CHE CI SONO E DATO CHE VEDO CHE SEI BEN ESPERTO TI CHIEDO SE MI SAI DIRE QUALE DELLE BANCHE CHE HO SEGNALATO RISPONDE AI SEGUENTI REQUISITI O ADDIRITTURA SI TRATTA DI UN'ALTRA...GRAZIE...
Una banca in Corea dalle crescite record
La Corea del Sud ci ha regalato negli utlimi anni alcuni dei più interessanti guadagni del nostro portafoglio Top Analisti. Molti lettori avranno forse sentito parlare nei mesi scorsi delle mirabolanti performance di Posco, quotata al Nyse con il simbolo PKX, la maggiore acciaieria del paese e una delle più importanti al mondo, titolo che abbiamo avuto in portafoglio tra il 2005 e il 2006. Siamo stati troppo frettolosi nella vendita di questa azienda. Dal 2005 ad oggi il titolo è quasi quadruplicato come valore, a testimonianza che la Corea, a causa delle sue solide crescite, non va assolutamente dimenticata in un portafoglio globale. Come sempre accade, quando un paese cresce a ritmi elevati, le maggiori beneficiarie sono le banche e le società finanziarie. I nostri analisti hanno quindi messo in evidenza come secondo titolo di oggi una delle maggiori banche coreane e probabilmente una di quelle che cresceranno di più a livello globale. Stiamo parlando di PASSA AL LIVELLO 2, quotata al Nyse.
La banca ha una lunga storia. Fondata nel 1963, opera con 1132 sportelli ripartiti su tutto il territorio coreano, più 3 filiali all'estero e 216 sportelli automatici.
Questa banca coreana secondo gli analisti aumenterà gli utili ad un tasso di oltre 44% annuo contro un più modesto 6,9% della concorrente Bank of America, e nonostante questo fattore, il titolo presenta un price earning attuale addirittura inferiore. Si tratta di una interessante anomalia di mercato che ci permette di cogliere una fantastica opportunità di entrata sul mercato coreano a valori fortemente scontati.
Nel corso dell'ultima lettera agli azionisti, il presidente ha recentemente dichiarato:
"Guardando indietro al 2006, posso affermare con sicurezza che la nostra banca ha posto una grande determinazione per raggiungere i tre obiettivi chiave che ci eravamo prefissati: restare ancora più vicini ai nostri clienti, prepararci per il futuro e trasformare il 2006 come la nostra piattaforma di lancio per i servizi sociali. Per il 2007 ritengo che la nostra banca possa proseguire con decisione la strada per diventare la prima e più importante banca dell'Asia."
Dividendo il price earning della banca per la sua crescita stimata, otteniamo il PEG, che ci mostra un valore pari a 0,20, uno dei valori più bassi registrati tra i titoli esteri quotati sulla borsa di New York. Secondo gli analisti, il target in questo caso è pari a +388% dai valori attuali, e si presenta come un' ottima scommessa a multipli fortemente sottovalutati sulla crescita della Corea e dell'intera zona dell'Asia. Titolo quotato al nyse.
ASPETTO TUE NUOVE...MAGARI SERVIRA ANCHE A TE...SEGUIRE STA BANCA SE SI RIESCE A CAPIRE QUAL'è...manuel.marche
Nuovo forumer
SCUSAMI...
GIA CHE CI SONO ALLEGO ANCHE LA FOTO DEL PRESIDENTE DI STA BANCA...MAGARI TI AIUTA...
CIAO
GIA CHE CI SONO ALLEGO ANCHE LA FOTO DEL PRESIDENTE DI STA BANCA...MAGARI TI AIUTA...
CIAO
gipa69
collegio dei patafisici
Io non sono molto fisionomista ma direi che è uguale a questo.....
allora è questa fondata nel 1963....
http://en.wikipedia.org/wiki/KB_Group
allora è questa fondata nel 1963....
http://en.wikipedia.org/wiki/KB_Group
manuel.marche
Nuovo forumer
beccata...ora la tengo sotto esame e vedremo se sparerà come dicono...
grazie
banche coreane quotate NYSE
Ciao a tutti sono nuovo del sito.
In riferimento alla banca coreana credo proprio anche io che si tratti di KOOKMIN
Le altre società indicate nel report dovrebbero essere TRINA SOLAR e FREEPORT MC MORAN
Qualcuno mi dà conferma ?
Ora le tengo d'occhio , poi vedo cosa fare...comunque ho visto in un report storico che effettivamente TRINA SOLAR è in continua ascesa ( un anno fa quotava 26 $ circa)
Ciao a tutti sono nuovo del sito.In riferimento alla banca coreana credo proprio anche io che si tratti di KOOKMIN
Le altre società indicate nel report dovrebbero essere TRINA SOLAR e FREEPORT MC MORAN
Qualcuno mi dà conferma ?
Ora le tengo d'occhio , poi vedo cosa fare...comunque ho visto in un report storico che effettivamente TRINA SOLAR è in continua ascesa ( un anno fa quotava 26 $ circa)
Similar threads
