Woori Financial Group, born through a merger of banks in the aftermath of the Asian financial crisis in 2018, is now fully privatised.
March 15, 2024In 2024, the interbank FX market will be opened to offshore financial firms that become certified as 'registered foreign institutions'.
February 8, 2023US PE firm Lone Star Funds initially planned to sell its stake in KEB for $6.3bn in 2008. Following approval delays, the stake was eventually sold in 2012 for just $2.9bn.
September 5, 2022State-operated KDIC will no longer be the largest shareholder of Woori Financial Group, 23 years after the group was created in a government bailout.
November 24, 2021Non-bank institutions such as finance companies and property developers have managed to circumvent the HKMA’s mortgage lending limits.
June 2, 2021HKMA deputy chief executive Arthur Yuen says banks will continue to face challenges this year as Hong Kong suffers its worst recession on record.
February 5, 2021Bank Indonesia abandoned the practice of quantitative easing in 1999 to ensure fiscal discipline in the aftermath of the Asian financial crisis.
June 22, 2020Thailand's National Economic and Social Development Council expects economic performance this year to be the worst since the Asian financial crisis.
May 22, 2020Stress tests results and sensitivity analysis indicate that Thailand's largest banks can withstand a shock broadly "as severe as the Asian financial crisis".
October 10, 2019