turnaround

Feb. 1 (Asia Today) — Hana Financial Group said Sunday it will accelerate efforts to boost performance at its non-bank affiliates this year, marking a pivotal shift toward more balanced growth as its banking unit continues to dominate earnings.

Last year the group posted a record net profit of 4 trillion won (about $2.9 billion), up 7.1% from a year earlier, driven primarily by strong results at Hana Bank. But performance at securities, insurance and card units lagged, dragging the non-bank contribution to overall profit down to about 12% from nearly 16% the previous year.

“We expect the normalization of performance for the group’s non-bank subsidiaries to begin in earnest starting this year,” the group said, calling 2026 the first year of “non-bank normalization.”

Under Chairman Ham Young-joo, Hana has set a target of raising non-bank profit share to 30% by 2027. But with the sector’s recent weak showing, he has emphasized to employees that “the non-banking sector cannot continue as it is.”

Hana Securities saw net profit fall nearly 6% last year to 212 billion won (about $147 million), while Hana Card’s profit slipped about 2% to 217.7 billion won (about $151 million). Hana Insurance’s deficit widened to 47 billion won. Hana Life Insurance did return to profit, posting 15.2 billion won (about $32.5 million) after a 7 billion won loss (about $4.8 million) the prior year, but its contribution remains limited.

To strengthen non-bank performance this year, the group said it is laying groundwork to secure profitability-focused growth engines and improve asset quality. Chairman Ham said non-bank results will be “key to improving the group’s return on equity,” projecting an 11-12% ROE if sufficient returns can be generated relative to capital.

Moves already under way include a newly launched commercial paper issue by Hana Securities, laying the foundation for broader venture capital supply, and plans to contribute about 18 trillion won (about $12.44 billion) this year to productive finance, including direct corporate investments.

Hana Card is also poised to play a role in a planned stablecoin consortium, with its distribution and payment functions seen as essential to linking stablecoins with the real economy. Last year, the card unit signed agreements with partners including EQBR and TravelWallet to explore stablecoin-based payment and settlement services.

In the insurance sector, the group is exploring acquisitions to build scale. It participated in due diligence for Lotte Insurance and recently submitted a letter of intent to acquire Yebyeol Insurance, potentially expanding its insurance portfolio.

A financial industry insider said Hana’s push to create synergies across its wealth management and capital markets divisions could help its non-bank units evolve into top-tier players – a shift that could help lift group net profit beyond the 5 trillion won (about $3.46 billion) mark over time.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260202010000254

The date was Dec. 20. It was the day everything changed for the Clippers.

Kawhi Leonard has been the leading scorer in the NBA since, averaging 31.8 points per game. James Harden has averaged 25.1 points in that stretch. The Clippers have the best scoring differential in the Western Conference over that span. They’ve been rolling.

This is where Robert Flom enters the story.

Flom is a blogger who covers the Clippers, and Dec. 20 was when he wrote the following on X: “If they go 15-3 in any stretch this season will print and eat this tweet.”

The Clippers have gone 15-3 since. True to his word, Flom printed the tweet Monday and ate it.

“Pretty crunchy,” he said.

Social media wasn’t around in 1953 or 1985, which means it’s highly unlikely anyone in Baltimore or Cleveland had to endure a crunchy moment like the one Flom put himself through on Monday night.

The 1952-53 Baltimore Bullets got into the playoffs by finishing fourth in a five-team division, in a year when eight of the NBA’s 10 teams made the postseason. The 1984-85 Cleveland Cavaliers got into the playoffs despite spending more than three months of that season holding down last place in the Eastern Conference.

Both teams started those seasons with 6-21 records. Of the 121 teams that started an NBA season with a record that bad or worse, including five this season, those Bullets (who finished 16-54) and Cavaliers (who finished 36-46) are the only two that wound up reaching the postseason.

The Clippers started 6-21 this season. The playoffs were a million miles away. Not anymore.

Going into Tuesday’s game at Utah, the Clippers are three games under .500 at 21-24. They are 10th in the West, but that would be enough to get them into the play-in tournament and give them a chance at a playoff berth.

For a team that was a half-game out of last place in the West a couple of days before Christmas, just getting back to play-in range this soon represents a minor miracle.

“We’re confident, we’re playing well, but we’ve still got to play better,” Clippers coach Tyronn Lue said after Sunday’s 126-89 romp over the Brooklyn Nets. “We still have to run through the tape and continue to execute the right way. … Overall, we’re playing well. We’ve got to keep it going.”

The Clippers, to their credit, were aware of Flom’s tweet. The Clippers’ social media team had a blast with it — all in good fun, like the tweet itself — and players couldn’t help but react when they got that 15th win in 18 games that ensured Flom would be chewing on paper for a half-hour or so.

“We gotta get him on camera,” Lue said.

“I don’t know how healthy that is for you,” Leonard said.

Clippers fans got into the act as well, chanting “eat the tweet” during Sunday’s game. It’s a feel-good story, such as it is. And there have been a few of those in the NBA this season.

Among them: Toronto started slowly but is vying for home-court advantage in the first round of the playoffs now. BetMGM Sportsbook had Phoenix’s over-under for wins this season at 30.5; the Suns have already won 27 games. The Celtics, even without Jayson Tatum, are No. 2 in the East, something few outside Boston probably expected.

The Clippers were supposed to be good, like title-contending good. Starting 6-21 was beyond unexpected. Then again, so was the turnaround. And the tweet is a neat part of why everyone seems happy in Clipperland these days, after tons of drama going back to the summer.

There was a probe of whether a business relationship between Leonard and a California company was legitimate or merely a way for the Clippers to circumvent salary cap rules, then Chris Paul being sent home in a stunning early December move, and a whole lot of losing.

Now, there’s a whole lot of winning. For the record, Flom now says the Clippers will finish 45-37. The way they’re playing, he might not have to eat those words.

When it comes to improved teams, the girls’ basketball team at St. Monica Academy in Montrose has had a big turnaround under first-year coach Vic Karapetian.

The team is 15-3 and 10-1 in the Heritage League after going 1-26 in league play the previous two years.

There are no seniors on the roster, and three freshmen have been making major contributions.

Karapetian had previous success coaching at AGBU and Mesrobian.

Mary Tomooka and Victoria Grigsby, the freshman backcourt duo, have been key players.

This is a daily look at the positive happenings in high school sports. To submit any news, please email eric.sondheimer@latimes.com.