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DJ KB Financial's 2021 Earnings May Be Supported by Lower Credit Costs -- Market Talk

· 02/04/2021 21:05

0205 GMT - KB Financial Group's 2021 earnings may get support from lower credit costs, after it had preemptively set aside extra provisions in 4Q for possible loan losses amid the Covid-19 pandemic, Hyundai Motor Securities says. The brokerage expects KB's 4Q early-retirement payments to some employees will help ease pressure from future restructuring costs. The brokerage forecasts KB's operating profit to increase 12% in 2021 on steady net-interest and fee incomes, versus a 2.8% rise in 2020, as it lifts the stock's target by 7.7% to KRW56,000 and maintains a buy rating. Shares rise 3.5% to KRW43,500. (kwanwoo.jun@wsj.com)

(END) Dow Jones Newswires

February 04, 2021 21:05 ET (02:05 GMT)

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