Preliminary figures show that domestic banks’ net income for the first half of the year totaled KRW3,587.5 billion, the largest first-half net income ever reported by domestic banks and a sharp rebound from KRW733.5 billion a year earlier. All the banks reported positive net income for the period. A large jump in net interest income from increased lending, no new large loan losses, service revenues from bancassurance, investment holding gains from the subsidiary units, and gains from securities investments are said to have contributed to the turnaround in net income for the first half of the year.

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