1920-30년대 金城銀行의 수신 업무 확대와 그 발전 요인

Abstract

The Kumsung bank could rapidly have grown in 1920-30s through expansion of its extending and receiving credit. Especially the total amount of receiving credit remained in its first place among Chinese commercial banks with Shanghai bank that grew rapidly with financial support of Nanking government in late 1920s and early 1930s. The main factors that made it possible for Kumsung bank could keep its rapid growth in its receiving credit can be summerized as follows: First, Kumsung bank sticked to high interest rate to depositors as a banking policy to absorb public funds. It offered about three times higher interest rate to depositors than foreign banks in China in order, which played a decisive role to make Kumsung bank superior to foreign banks in the competition of receiving credit. Second, Kumsung bank could effectively absorb a large amount of public funds, by taking advantage of this high financial credit, that was floating in the financial market without finding proper place for its investment. In the early 1930s, a large amount of public funds began to be focused on the large cities, such as Shanghai and Tianjin etc., from interior to find the proper condition for its investment. The highest credit of Kumsung bank in the financial market helped it absorb the public funds which began to be focused on the coastal area in the early 1930s. Third, Kumsung bank could successfully expand its receiving credit by using the international financial environment, In 1920s, each country all around the world began to replace its silver standard monetary system with gold standard monetary system, China sticked to silver standard monetary system, which cause a large amount of silvers in the global market to focus on China. As a result, it led to the rapid increase of Chinese currency in the financial market, and it helped Kumsung bank expand its receiving credit in the financial market. Fourth, Kumsung bank could increase the amount of receiving credit through the successful issue of banknotes. Everytime the banking crisis took place in the financial market, Kumsung bank could enhance its financial credit by converting fully bank notes into silver, as a result of which proved that Kumsung bank possessed more abundant banking capitals than other Chinese commercial banks. It caused depositors to put their money in m Kumsung bank and made it possible to expand its amount of receiving credit. Fifth, the deep financial relation with government institutions helped kumsung bank increase the amount of its receiving credit. Nanking government issued a large amount of public bonds as a way to overcome its financial deficits caused the incessant war and the accumulation of foreign debts. Kumsung bank took the financial policy to cooperate with Nanking government by making an investment on the public bond issued by government. The investment of public funds gave about 20% profit to Kumsung bank. Besides the investment of public bonds and governmental enterprises, Kumsung bank maintained the extending and receiving credit with government institutions in high interest, which was helpful with the expansion of its receiving credit.