ETF Boom Lifts Big Four Banks’ Wealth Management Fee Income by Over 50%

In the first quarter of this year, wealth management fee income at Korea’s four major banks rose by more than 50% from a year earlier, supported by the investment boom in exchange-traded funds, or ETFs. The increase came as buoyant stock markets helped expand ETF sales and lifted fee revenue in wealth management. The original report described the trend as banks raising fees and increasing sales, which boosted earnings from asset management services. As ETFs become a more visible source of bank wealth management income, related sales activity and fee revenue trends are expected to remain in focus. Source: mk.co.kr