[Korea sinyuncheol financial newspaper reporter] Joe mercenaries Shinhan Financial Group President and seems to be a full-fledged competition Yun Jonggyu KB Financial Group President and CEO. Two financial chief is a recent shareholder meeting showed their eye on the title, such as domestic financial group 1. President Joe was presented to solidify a long-term goal of domestic and other Asian leader Chairman Yun threw a message to one financial group in addition to house recovery phase.
KB Financial Group, the leading ginseng keep water and a place to recapture such higher olragaryeo Shinhan and the first goal is the structure that inevitably to work on.
◇ meet the first and second banks of
Industry first, the two financial groups vying for second place has attracted attention from the fact that determination of the Year group head is extraordinary. Article mercenaries President shall complete the term of the CEO and start Shinhan first phase, the new president will be elected this year. Cho is the joy of the back office and bring tension to the whole group. Especially I care about you shrinking the gap with KB. President-designate days even mentioned the possibility of reversing KB with a nationwide branch manager in the first half of 2017 Management Strategy Conference. Visit the main subsidiaries own and had to reporting.
As a result President Joe has instructed each subsidiary to file "2020 Project" containing a long-term business plans and performance targets by 2020, that finished 1st term. Cho has expressed a bar called 'great rival' for KB in the shareholders' meeting place.
Yun Jonggyu President is putting strong management drive right to take office for two years. Yun Jonggyu KB Financial Chairman in the last 24 days held shareholders' meeting following the year New Year message a leading bank to retake said, "I will overcome this year's difficulties also have internal and external circumstances, but nokrokji and advance to the Republic of Korea '1 and' banking group phase recovery" as a major goal put. Performance is the dream of recapturing background points, including one that continually getting better after taking office President Yoon. Especially succeeded acquisitions took two rabbits grow the top-line group at the same time as strengthening non-banking sector at the same time. The SFG has embellish more advanced it is revenue and Shinhan Bank in 2008 than KB Kookmin Bank KB for holding in the profitable since 2010. The President Will Yun chatgetda be the leading financial group to change the position of a title such as one second.
◇ growing competition that gap shrinking
Performance differences between the two banking groups Shinhan are superior to KB. Last year, revenue of Shinhan and KB Financial Group, Shinhan Financial Group is 2.7748 trillion won, KB Financial Group has recorded 2.1437 trillion won. Both groups raised the name of the 2 trillion won net profit clubs. Group revenue gap is 631.1 billion won. However, this performance is a massive downsizing of KB Kookmin Bank late last year and more than 2,800 will be paid to reflect the desired retirement of 500 billion won.
The Bank recorded a net profit of 1.461 trillion won when Despite a net profit of 964.3 billion won last year, except for the severance hope. Net income decreased from last difference is reduced to 784,500,002,014 years to 668,900,002,015 years, last year was a record 631.1 billion won last year, if not reflected hope retirement income difference between Shinhan and KB FG 130 billion won.
KB Financial Group will achieve a profit in 2012 after significantly below the 2 trillion won net profit fell back to 10,005 years two trillion won. And carried out a large-scale voluntary retirement heard a total of 844.7 billion won money banks 807.2 billion won, 37.5 billion won, including securities, were offset by a gain from a bargain purchase. A bargain purchase gain recognized in the fourth quarter, a total of 697.9 billion won to 622.8 billion won, Hyundai Securities Co., exchange relevant, KB Insurance claim arose a third party allocation capital increase related to participation 75.1 billion won. Bargain purchase gain points to revenue accounting for stock prices caused by cheaper to buy than the carrying value. KB Financial Group rallied a massive bargain purchase gain of last year, Hyundai Securities stake. KB Financial Group KB Insurance stake, but I have 39.8%, KB Capital 52% stake may further secure the additional shares.
KB is a reversal of Shinhan gasigwon When reflecting one-off factors this year. That is a subsidiary of KB Kookmin Bank reserves are looking to sell the timing for some of POSCO and SK Group shares worth 828 billion won. Shinhan Bank is much more than this amount, but has the size POSCO · SK Networks Co. (210 billion won worth).
◇ similarities and differences between the two heads
Article mercenaries Yun Jonggyu Chairman and President are common in that they played a role, committing finish past heritage. Cho became the final of the Shinhan crisis' in your hands.
Shinhan crisis "Shinhan crisis called the situation unprecedented in the bank sued the president of holding direct factions began to fight. This event generated by the management is ultimately subject to the evaluation to be left only scratches SFG morality. The case was on the conclusions in seven months legal battle at the end of six years, must decide whether or not to pay stock options to Shin Sanghun former President holding the last remaining challenges. If you finish a far better performance Shinhan Financial Group Shinhan crisis received only finish Achilles cases cited there's no noise to concentrate on at the same time receive lighting management leadership may be an opportunity in Cho positions.
Yun Jonggyu president and an adjunct to current National Bank. Inde unusual circumstances domestic holding jungeseon because of the aftermath of the 'KB crisis, the president and CEO Holding waged a struggle. At the time in 2014 before imyoungrok KB Kookmin Bank's former chairman and Lee Geonho his continuing conflicts due to differences of opinion on management greeted the results of the results accompanied by resignation. The organization that is the current Chairman Yun Jonggyu appearances as a reliever when I'm in confusion. Yoon was President rectify the organization quickly and focus on the management and evaluation that has been materialized since last year.
In common with the two presidents separately as it is often the difference from management style to the former. President Joe mercenaries have lived their lives in Hangwon from a Shinhan Man. Among the organizations supporting my nickname is high enough to spur that is also free and easy days "Uncle Joe." It iphaeng Shinhan Bank in 1984 underwent a personnel director, planning and the New York branch manager, Global Business Group Executive, Sales Promotion Group buhaengjang like. Shinhan BNP Paribas Asset Management CEO, after former Shinhan Bank Shinhan rose to president. "We work as a mercenary," said business momentum is strong enough to speak for yourself.
Yun Jonggyu president has a unique background of leave after the incident, double three times in KB. After graduating from Gwangju Appeal traveled KEB after the university had to pass the CPA exam and administrative notices (25 times). Three days after he spent 20 years working in accounting firms to Vice President (故) Kim Jeongtae haengjang This was promoted by the National Bank buhaengjang a blitz. KB also left Yun Kim stepped down as chairman haengjang the end of 2004 financial authorities and discord. He came to the first two cases KB Euh Yoon-dae is when you are hired as President in 2010 and Chief Financial Officer (CFO). Imyoungrok Chairman Yun left the KB back when the president took office. The third incident immediately KB jarida current president in November 2014.
The nickname of President Yun 'ttokbu. "The days become articulate '' it is intelligent and diligent, and holds two meanings. Other difference is the age of two years old Hugo, Chairman Cho Yoon (born in 1955) than Cho (born 1957) is Korea, Yoon, President graduated from Sungkyunkwan University, respectively.
◇ Shinhan 'global', KB 'M & A' keyword
Article mercenaries chairman, said the reason for the inaugural press conference held in the last 27 days should focus on global said, "the future will be many opportunities to foreign than domestic." The day Joe said, "over the status of the domestic No. 1 financial group shall chair its commitments to the Asian leading financial group in the medium term orientation" and the final goal of the group said, as "World Class Financial Group.
Global expansion of Shinhan stands out among domestic financial institutions. A subsidiary of Shinhan Bank holds 150 global networks in 20 countries. , While KB is the most passive part in the global expansion of the commercial banks.
Last year, Shinhan Bank inde degree accounted for net income above one of the foreign banks in Vietnam Cho is the goal of expanding the Vietnam success stories. Shinhan Bank, there is a local contact type, such as sales based on the offline store mobile bank in Vietnam, car loans, the same way as plans to expand into Indonesia.
Cho is reason to accelerate the global expansion has also been no reason to expand in the country less because many eopgwon first place in the domestic market. So Cho is to strengthen the 'eopgwon 1' to keep the bank card, such as expanding the gap further, and the remaining group of companies is planning to strengthen its competitiveness as a business, ultimately fostering the market above 1.
After Yun Jonggyu president in charge of business because of KB Financial Group is sikyeotgi short-term performance is successful succession of large M & A (mergers and acquisitions) in the background could rise. While non-life insurance subsidiary, KB has stood the acquisition of LIG Insurance industry climbed up 4 KB Securities acquired Hyundai Securities took third place in the industry. The same trend is expected to continue persist. The KB Financial Group expects the market to the ref merger acquisition of life insurance because it came out.
This collection of eye-catching elements in the KB shareholders' meeting is that elected the former chairman Stuart Solomon Matt life Outside Director. Former Chairman Solomon is rated as South Korea's long life at the same time, the insurance experts also higher understanding of Korea's financial markets.
It turns out the analysis of pavement to strengthen the life insurance sector of the future, KB Financial Group subsidiaries. Furthermore, insurers are considering additional arguments that evaluate the possibility.
Total assets of KB Life Insurance last year's third quarter (July-September) by 8.8846 trillion won in 25 of the 17 domestic insurers ranks. No. 1 is only 3.7% of Samsung Life Insurance (242 trillion won). This is the size of place that is on the scale of KB Financial Group. Forward predicted that the International Accounting Standards insurance liabilities (IFRS17) that when introduced is to change the rating at cost to market the recapitalization hard insurers increased possibility come up for sale, KB Financial Group is a life insurance mergers and acquisitions has its own grounds of that will.
◇ rival everywhere from domestic and overseas
Competition began in Korea, reflecting the recent overseas expansion of financial institutions has been deployed globally. Yun Jonggyu president met recently Nguyen yenssu eonpuk Prime Minister to visit Vietnam KB Kookmin Bank had asked for such point conversion Hanoi office in Laos launched a joint leasing company KB collaborated Duck Singh who founded the local to the KB Capital · KB Kookmin Card co .
The mean presence in Vietnam with Shinhan Bank, foreign banks accounted for the first place we'll win. Shinhan Vietnam Bank has put profits over 40 billion won per year. But as Kookmin Bank, Shinhan Bank, which presence in Vietnam deulyigo the ball it is greater the likelihood suffer from early 1992.
Even as the buzzword of the banking sector is 'global' and 'digital' digital competition began. Division President, Digital Shinhan 'that they had set out to plant a keyword to an entire group chairman Yoon visited the Silicon Valley and New York last March. Advanced financial reporting in the world's financial center in New York would come to study how the financial and digital collaboration be made through a visit to Silicon Valley.
KB Financial Group official said, "Chairman Yoon global expansion and high-tech fusion of Finance will made a determination of" non-essential choice '. " Article chairman of that competition is intensifying is "tougher the KB is the retail sector" for KB Financial Group said while erecting splashed advantage of the relative "In the first quarter results expected to be able to see gauge the strength of this year's sales," he said. Yet he said "sales side thinks Shinhan two years" seemed confident about the competition in the future. April is the month comes the first quarter earnings report for each company. The President matdaegyeol first grade together will soon be able to compare.
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