The Management Policy of Commercial Bank CEOs This Year: 'Risk Management' and 'Substantial Growth'

A Closer Look at New Year's Addresses from KB Kookmin, Shinhan, and Woori Bank Presidents

[Asia Economy Reporter Yu Je-hoon] The CEOs of the four major commercial banks are expected to focus on 'soundness management' and 'substantive growth' this year. This judgment comes from the belief that risk management and qualitative growth will determine success amid the unprecedented triple crisis of high interest rates, high inflation, and high exchange rates.

According to the financial sector on the 2nd, Lee Jae-geun, President of KB Kookmin Bank, stated in his New Year's message distributed that day, "To quickly respond to market environment changes with high volatility, the advancement of crisis management and risk management systems is no longer optional but essential."

President Lee diagnosed, "The disorder in global finance and economy triggered by the triple high phenomenon will continue into the new year, and the domestic economy is also entering a triple recession period with consumption, investment, and exports all sluggish. It is truly a situation where an economic ice age is coming."

Han Yong-gu, President of Shinhan Bank, also said, "As a recession beyond economic slowdown is expected, there is concern over deteriorating soundness centered on vulnerable borrowers across the entire financial sector, as well as insolvency among small business owners and marginal companies," emphasizing, "We must manage soundness meticulously through precise data analysis and provide timely support measures to customers in need."

The bank presidents also repeatedly raised the necessity of qualitative growth amid the crisis. President Lee said, "The reason a rabbit can leap far is that it contracts its body and legs like springs to accumulate the energy needed for the jump," adding, "We must build endurance to withstand the severe cold and develop capabilities to drive future growth to aim for a greater leap."

He further ordered ▲strengthening customer contact competitiveness ▲enhancing core business competitiveness ▲advancing management systems ▲and fostering a future-oriented corporate culture, emphasizing, "To maintain a solid market position in personal and corporate finance, which are the main sources of bank revenue, all efforts must be devoted to strengthening on-site sales power in the new year."

Lee Won-duk, President of Woori Bank, presented management tasks such as customer satisfaction, technology leadership, business growth, cultural innovation, and risk control (MAGIC 2023), stating, "For sustainable growth, we must look ahead and invest in the future." President Han also mentioned strengthening management, qualitative growth in core sectors, and preparing for a sustainable future, urging, "I ask each business group to continue efforts so that qualitative growth can be sustained in key businesses such as personal, corporate, IB, and global."

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