국내 상호저축은행에 대해 패널분석 및 횡단면 분석을 실시하여 글로벌 금
융위기 및 프로젝트 파이낸싱 (PF) 대출이 저축은행의 수익성에 미친 영향에
대하여 살펴보았다. 분석결과 글로벌 금융위기는 저축은행의 수익성을 악화시
킨 것으로 나타났으며, 여기에는 저축은행의 PF 대출부실화가 큰 역할을 한 것
으로 밝혀졌다. 향후 저축은행은 사업다각화 등을 통하여 비이자수익 기반을
확대시킴으로써 수익성을 개선해 나갈 필요가 있다.We estimate the effects of the global financial crisis and the project
financing (PF) loan loss on the profitability of mutual savings banks using
panel analyses and cross-section analyses. The dependent variables are return on
assets (ROA), return on equity (ROE), structural income ratio, non-interest
income ratio, and the independent variables are growth rate of total assets,
equity ratio, loan-to-firm ratio, interest margin ratio, loan loss reserves ratio.
Panel analyses show that equity ratio and interest margin ratio have a
positive effect on ROA and the loan-to-firm ratio has a negative effect on
ROA. The growth rate of total assets and equity ratio are the variables having
a positive relationship with ROE. While the loan-to-firm ratio has a positive
effect on structural income ratio, the loan loss reserves ratio has a negative
influence on structural income ratio. All the independent variables give
statistical significance to non-interest income ratio
Comparing the analysis result of cross-section data before the global
financial crisis with that after the global financial crisis, we find that the
negative effects of independent variables on dependent variables have
strengthened. The reinforcement of the negative effect of dependent variables on
the variables of profitability after the global financial crisis are mainly due to
the PF loan loss of mutual savings banks.