5Major financial holding companies' first-half inclusive finance 11trillion3,000hundred million won supplied
5Major financial holding companies supplied 11trillion3,000hundred million won through inclusive finance in the first half of this year. The Financial Services Commission decided to define inclusive finance as an ongoing responsibility and establish an evaluation and accountability framework. The scale of debt adjustments, write-offs, and delinquent receivables resolution varies by compilation.
5Major financial holding companies supplied 11trillion3,000hundred million won through inclusive finance in the first half of this year. For investors, changes in banks' credit loss expenses and capital ratios are of direct interest.
The Financial Services Commission and 5major financial holding companies decided to define inclusive finance as an ongoing responsibility and establish an evaluation and accountability framework. The relevant compilation was disclosed in early 7month.
The scale of debt adjustments and debt write-offs differed depending on the compilation criteria. One compilation put the scale at 3trillion8,000hundred million won.
The performance in disposing of delinquent receivables also differs from report to report. Some tallies put it at 2trillion won, while other tallies put it at 2trillion3,000 hundred million won.
Financial holding companies disclosed their first-half inclusive finance performance and reflected the relevant figures in their quarterly reports. Detailed information by item can be confirmed through each holding company's disclosures.
Separately, 3 parts of 1 was borne by taxpayers in Seoul's Gangnam3 District. The possibility of stronger property-holding taxes was mentioned.
The reporting period was 7 month 10 day through 12 day. The information was compiled based on announcements and tallies by each financial holding company and the Financial Services Commission.
Detailed information and the future schedule are expected to be disclosed additionally when the Financial Services Commission announces its specific assessment framework.