"Take a Clear Look at Financial Companies' Management Status"... FSS Revamps Financial Statistics System

[Asia Economy Reporter Kim Hyo-jin] The Financial Supervisory Service (FSS) announced that it has completed the overhaul of the Financial Statistics Information System (FISIS) to expand the provision of financial statistical information and fully opened it on the 15th.

FISIS is a financial statistics site provided externally by utilizing business reports regularly submitted by financial companies to the FSS.

The FSS carried out this large-scale overhaul of FISIS for the first time since December 2014, reflecting the increased demand for information provision and aiming to improve inconveniences.

With this overhaul, the FSS newly provides information related to the general status of financial companies, business activities, and financial ratios. It includes data such as banks' regional branch status, new delinquencies and write-offs, insurance companies' agent retention rates and insurance contract retention rates, financial investment companies' leverage ratios, and savings banks' corporate loans by industry.

For example, through the newly provided "Insurance Contract Retention Rate" statistical table, one can indirectly understand the continuity of insurance contracts and efforts for complete sales by each insurance company.

The FSS also provides additional detailed sub-items for financial statement-related statistical tables and other statistical tables. Accordingly, users can learn more detailed information about banks' profitability, insurance companies' loans by purpose, and financial investment companies' capital adequacy and segmental profits and losses.

Furthermore, the FSS enhanced user convenience by displaying the composition ratio by detailed items as percentages in the balance sheets of financial holding companies, foreign bank branches, and real estate trusts.

In the profit and loss statement statistical tables for trusts and specialized credit finance companies, the FSS added annual cumulative amount items in addition to the current quarter values, consistent with other financial sectors, and added and supplemented weighted average calculation functions to provide accurate information on major management indicators such as ROA and ROE, which are in high demand by users by financial sector.

The FSS stated, "With this overhaul, users of statistical information will be able to understand the financial and business status and major management characteristics of each financial company in more detail, and convenience and usability are expected to improve through the provision of composition ratios and cumulative totals by item and the improvement of weighted average functions."

This content was produced with the assistance of AI translation services.