Pepper Group
(ASX:PEP) has been advised by South Korea’s regulator that its South Korean mutual savings bank, Pepper Savings, is affected by changes to regulations surrounding BIS capital ratios.
The Financial Supervisory Service has advised the bank will be required to increase their BIS ratios by at least 8 per cent.
The requirement will apply to all South Korean mutual savings banks with total assets of more than one trillion won, approximately $1.1 billion.
The regulation will be effective from 1 January 2018.
Pepper Savings Bank has recently agreed to a Memorandum of Understanding with the regulator in relation to its required BIS ratio.
Shares in Pepper Group
(ASX:PEP) are trading up 0.29 per cent to $3.50.
