Korean bank deal is no cure-all for bad debt
Article Abstract:
Amid a wave of corporate bankruptcies that have thrown most banks into serious debt, two of South Korea's five biggest commercial banks announced they would merge as part of a general consolidation trend within South Korea's banking sector. Hanil Bank and Commercial Bank will merge into South Korea's biggest commercial bank, to be named Commercial-Hanil Bank. While the merger will realize substantial cost savings and other efficiencies, it will not solve the serious problems of exposure to nonperforming loans that had plagued both banks prior to the merger.
Comment:
New entity created from the merger of Commercial Bank and Hanil Bank amid a consolidation trend
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Russia's banks planted seeds of their own problems
Article Abstract:
Russia's young commercial banks are being hurt by the financial crisis that is plaguing the country. Numerous banks have been unable to pay debt obligations on time as the Russian ruble has fallen in value. Government and central bank officials warn that many of Russia's 1,500 banks will be forced to close because of the crisis. Bank assets have fallen by 90% on the average since their peak in the fall of 1997.
Comment:
Russia: Young commercial banks are being hurt by the financial crisis that is plaguing the country
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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