Believe your common ratio is after the latest stock issuance. Prior to the stock issuance it was arguably too low; at least according to the Comptroller it was.
I agree with your comment on setting the bar low. Suppose that is the way the game is played but that doesn't mean I like it. I want consistency when it comes to evaluating credit rather than games. He also talks a lot about a "credit culture" and while I completely agree about the need for a focus on appropriately monitoring credits I believe WIBC has always had a credit culture so his saying this over seems a bit trite. Suppose it doesn't hurt anything though.
Thank you for the discussion. From afar, LA instead of L.A., this helps me better understanding the bank up close.
From what I can gather, everyone of these Korean banks lost their lending discipline from the board down. Structurally the credit approval might better be independent, but, with the board breathing down their necks, they never could be.
Worthy to be pointed out was that Center Bank pulled back lending a bit earlier than the rest. A credit to Center's board or Mr. Yoo, I'd never know.
4Q was soft in the region, the progress was on credit side. Still, cheers!