Banking in South Korea has remained largely stable on the 2021 results, with the notable exception of the digital banks. On a macro level, the country enjoyed a year of gross domestic product growth, reporting an increase of 4% for 2021, significantly up on the 0.9% decline recorded for 2020.
KB Financial Group (KBFG) retains its spot as the largest bank in the country, with a 5.1% increase in Tier 1 capital, to $35.65bn. However, this was not enough for the bank to maintain its rank in the Top 1000; it fell two places on last year’s results to 62nd. While the bank’s pre-tax profits rose 17.1%, it saw its total assets decline by 0.3%.
