Share Four out of five major banking groups in the country have so far posted or are expected to release record-high annual net-profits last year. THE KOREA HERALD South Korea banks slash dividends despite record-high 2020 profits Wed, 10 February 2021 South Korean banking groups have posted record-high net profits for fiscal year 2020, but their dividend payouts have been reduced by roughly six percentage points upon advice from the country’s regulator, according to industry data. Four out of five major banking groups in the country have so far posted or are expected to release record-high annual net-profits last year, buoyed by an increase in loans and the heated stock market.