NongHyup Bank to set aside more loan-loss funds
[THE INVESTOR] NongHyup Bank, Korea’s second-largest bank by assets, will set aside loan-loss provisions of up to 1.7 trillion won (US$1.47 billion) this year to address its heavy exposure to debt-laden shipping and shipbuilding companies, the company said on June 22.The lender said it would make a ”big bath“ provision to improve its asset quality as loans that the bank extended to troubled companies, including Dewoo Shipbuilding & Marine Engineering, may turn sour. Big bath provision indicates
June 22, 2016