Savings banks swing to black in Q1; delinquency rate soars

Savings banks swing to black in Q1; delinquency rate soars

Savings banks returned to the black in the first quarter from a year earlier, aided by a decline in loan-loss reserve, data showed Thursday. The combined net profit of 79 savings banks nationwide reached 44 billion won ($31.8 million) in the January-March period, shifting from the loss of 154 billion won a year earlier, according to their trade association. The data showed that their loan-loss reserve declined by 300 billion won in the first qua…