Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS AGENCY) = In the first half of 2024, domestic banks in South Korea achieved a record-high interest income of approximately 30 trillion won. However, their net profit for the period saw a reduction of over 1 trillion won, largely due to provisions set aside related to equity-linked securities (ELS) tied to the Hong Kong H-Share Index.

According to the Financial Supervisory Service's provisional report on the"Operating Results of Domestic Banks for the First Half of 2024,"the net profit of domestic banks stood at KRW 12.6 trillion, marking a decrease of KRW 1.5 trillion compared to the same period last year.

The net profit of commercial banks was KRW 6.7 trillion, down by KRW 200 billion from the previous year. In contrast, regional banks and internet-only banks saw slight increases in their net profits, by KRW 100 billion and KRW 1700 billion, respectively.

The net profit of special banks was KRW 4.8 trillion, a decrease of KRW 1.6 trillion from the previous year. This decline is attributed to a base effect, as the net profit had significantly increased in the first half of last year due to the normalization of management at Hanwha Ocean.

By Eun-young Huh(eunyoung114@nspna.com) and Soo-in Kang(sink606@nspna.com)

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