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Suhyup Bank targets doubling retail customer base in 2018

South Korea's Suhyup Bank expects pretax profit for 2017 to reach 265 billion won, growing to 300 billion won in 2018, The Chosun Ilbo reported Dec. 1, citing CEO Lee Dong-bin.

The bank also forecasts that it will expand its retail customer base to 2 million customers in 2018 from the current 1.1 million.

Suhyup Bank was spun off from the National Federation of Fisheries Cooperatives in December 2016.

In 2001, Suhyup Bank received a government funding injection of 1.16 trillion won, most of which remains unpaid. The bank plans to fully repay the government by 2027.

As of Nov. 30, US$1 was equivalent to 1,085.97 South Korean won.