(코리아타운뉴스) Korean Banks’ ROA Slightly Above Average
Comprehensive research on 178 banks in California
CBB Bank tops the list among Korean banks at 2.28 percent
All seven U.S.-based Korean banks surpassed the statewide ROA average of 1.47 percent among 178 banks in 2016. The ROA indicates the efficiency of a bank’s utilization of its assets. Generally, a figure surpassing 1 percent is considered favorable.
Of the 178 banks, all seven Korean banks entered the top 75 while five of them broke into the top 50.
CBB Bank marked the highest ROA among Korean banks at 2.28 percent, putting itself 15th in the overall, statewide rankings. Next up was Pacific City Bank at 2.19 percent as it came in 17th overall. Hanmi Bank (2.16 percent), Bank of Hope (1.99), Open Bank (1.84), Uniti Bank (1.73) and US Metro Bank (1.58) followed.
“Korean banks possess more commercial real estate and SBA loans than average,” said an anonymous source within the banking industry. “That’s why they’ve traditionally had higher revenue compared to other banks in the country.”
Meanwhile, Capital Bank and Trust Company came in first in the statewide rankings at 27.98 percent. Finishing last was Merchant Bank of California at -11.06 percent.
“We will continue to make efforts to make a balanced growth even though we’ve been consistent with our track record of making revenues,” said CBB Bank president Joanne Kim.
By Sung Cheol Jin
with the Korea JoongAng Daily
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