Commercial banks seek ideas from new competitors for digitization

Woori Bank CEO Kwon Kwang-seok speaks at the lender’s annual management strategy kick-off meeting held at its headquarters in central Seoul on Friday. (Woori Bank) South Korea’s leading commercial banks are looking for ways to accelerate the digitization of their retail services, with some even breaking down traditional barriers between new competitors in the industry in order to share ideas …

Nine-month total assets of 8 listed commercial banks up 3.7% to QR1.69tn: PwC

The total aggregate assets of eight listed commercial banks in Qatar grew 3.7% in the first nine months of 2020 to reach QR 1.69 billion, according to a PwC report. Local banks showed steady growth in 2020 despite the implications of the Covid-19 pandemic, according to the PwC study. Findings from PwC’s latest 2020 Qatar Banking Sector Report, covering eight …

Listed Commercial Banks Could Post 5.5% Increase in Third Quarter Net Profit

Still in the shadow of the Covid-19 pandemic, listed commercial banks could record a 5.5% increase (year-on-year or year-on-year) in their net profit for the third quarter ended December 2020 (Q3 of FY21). Their net income could increase by around 1.8% during the review period, according to Bloomberg estimates. Estimates indicate that private sector lenders will perform better than public …