The South Korean Financial Services Commission (FSC) has
suspended another seven savings banks, bringing the total to 16
institutions to be suspended this year.
The latest seven savings banks caught in the
net – Jeil, Jeil II, Prime, Daeyeong, Ace, Parangsae, and Tomato –
failed to meet the regulator’s capital adequacy test.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Jeil II was suspended because its capital adequacy ratio is
below 1% and there is a strong likelihood that the suspension of
its parent company, Jeil, will lead to depositors’ bank runs.
The savings banks have now been suspended for a period of six
months.
The regulator has now concluded stress tests of all of the
sector’s 85 savings banks.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
