Kookmin Bank Posts Lowest Net Income Per Employee

      August 24, 2010 12:00

      Kookmin Bank staff achieved the lowest net income for their employer out of eight major banks in Korea during the first half of this year.

      After calculating the first-half net profits of the eight banks according to the number of their employees, Kookmin Bank's net profit per worker amounted to just W6.67 million (US$1=W1,182). The bank employs 26,000 people.

      Shinhan Bank posted the highest net profit per employee of W73.48 million, 11 times greater than Kookmin Bank. "Kookmin Bank's net profit decreased significantly in the second quarter after it had to set aside large loan-loss provisions for project-financing loans," said an official at the Financial Supervisory Service.

      Korea Exchange Bank posted the second highest net income of W71.82 million per staffer, followed by the Industrial Bank of Korea (W69.09 million), Hana Bank (48.32 million), Citibank (W40.99 million), Standard Chartered First Bank (W32.89 million) and Woori Bank (32.54 million).

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