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MarketScreener Homepage  >  Equities  >  KOREA EXCHANGE  >  Hana Financial Group Inc    A086790   KR7086790003

HANA FINANCIAL GROUP INC

(A086790)
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South Korea to probe interest rate derivatives sales

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08/19/2019 | 06:12am EST

SEOUL (Reuters) - South Korea's financial regulator said on Monday it would investigate interest rate derivative products sold by banks and brokerage firms that put investors at risk of losing nearly all their money.

Some 822.4 billion won ($679.8 million) in derivatives linked to overseas interest rates and sold mainly to retail investors were at risk, the Financial Supervisory Service said in a statement.

It cited one product linked to 10-year German government bond yields.

"If the interest rates (on the German bonds) remain at the current level until the maturity of the products falling between September and November, the average rate of loss will reach 95.1% when excluding gains from coupon payment," the regulator said.

These and other products were sold by Woori Bank, KEB Hana Bank, Kookmin Bank and three domestic brokerage firms to 188 corporate clients and 3,654 retail investors, who hold most of the derivatives.

The three banks did not immediately return calls from Reuters seeking comment.

The regulator said its probe would begin this month and it gave no further details about the investigation.

(Reporting by Choonsik Yoo; editing by Darren Schuettler)

Stocks mentioned in the article
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HANA FINANCIAL GROUP INC End-of-day quote.
KB FINANCIAL GROUP INC End-of-day quote.
WOORI FINANCIAL GROUP INC End-of-day quote.
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Financials (KRW)
Sales 2019 7 823 B
EBIT 2019 3 748 B
Net income 2019 2 452 B
Debt 2019 -
Yield 2019 6,32%
P/E ratio 2019 4,07x
P/E ratio 2020 4,31x
Capi. / Sales2019 1 268x
Capi. / Sales2020 1 242x
Capitalization 9 923 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 45 253,57  KRW
Last Close Price 33 050,00  KRW
Spread / Highest target 60,4%
Spread / Average Target 36,9%
Spread / Lowest Target -3,18%
EPS Revisions
Managers
NameTitle
Jung-Tai Kim Co-Chairman & Chief Executive Officer
Seong-Bok Yoon Co-Chairman
Seung-Yeol Lee Vice President-Group Finance
Won-Goo Park Independent Director
Young-Joo Ham Vice Chairman & Executive Vice President
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