SEOUL: Profits at South Korean banks tumbled in the first half this year because of their heavy exposure to SK Global Co and a rise in bad consumer loans, a financial watchdog said yesterday.
For the six months to June, 19 banks posted a combined net profit of 467.2 billion won, down 86.8% from 3.5 trillion won a year ago, the Financial Supervisory Service (FSS) said.
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