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[Alpha Biz=(Chicago) Reporter Paul Lee] The Financial Services Commission will push for the publication of a "bank management disclosure report" that explains in detail where banks generate and use their profits.
The Financial Services Commission said on the 15th that it held the "12th Working Group of the TF to improve management, business practices and systems in the banking sector" the previous day and discussed the "public report on bank management."
It is difficult for the public to know the bank's detailed management status, so it is necessary to disclose the management status easily and in detail. In response, the Financial Services Commission ordered a management status report, including ▲ asset and debt composition ▲ profit and cost composition ▲ use of net profit so that the profit structure and flow of banks can be identified.
Through the report, the public can identify the bank's asset management and procurement structure, the cause of average interest rate fluctuations, profits and the status of performance-based bonuses for executives and employees. The Financial Services Commission expects the management status report to boost public confidence in the banking industry and promote transparent and fair competition among banks.
In the discussion on this day, there was an opinion that the core performance index (KPI), which is the standard for bank management performance evaluation, should be disclosed in detail. However, the banking sector countered that much of it is already being made public, and that it could cause unnecessary controversy if it is disclosed uniformly because each bank has a different remuneration system. It was concerned that the exposure of each bank's sales strategy would lead to risks.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
