Gwangju Bank Achieves 46.7 Billion KRW Net Profit in Q1

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 28th that it achieved a net profit of 46.7 billion KRW (separate basis) in the first quarter of 2020.

Gwangju Bank maintains the highest level of asset soundness in the banking sector with a non-performing loan ratio of 0.47% and a delinquency ratio of 0.43% through proactive soundness management. Despite the 'COVID-19' crisis, it achieved performance indicators exceeding the net profit of 45.3 billion KRW in the same period last year, based on customer-oriented management and field-centered management, with a BIS capital adequacy ratio of 15.41% and a common equity tier 1 capital ratio of 12.98%.

The bank analyzes that the background of this stable management performance lies in the continuous increase of low-cost core deposits and high-quality customers, qualitative growth focused on substance, and proactive asset soundness management.

Following the conviction of Gwangju Bank President Song Jong-wook, who usually states, “Rather than chasing profits, we will pursue values beyond profits and practice coexistence with the region and companionship with local residents,” all employees are striving to overcome the difficulties faced by the local economy due to 'COVID-19' together with the local community.

President Song Jong-wook of Gwangju Bank said, “To repay the love and trust of customers and local residents who support Gwangju Bank, we will continue to do our best in corporate social responsibility while coexisting with the region based on continuous customer-centered and regionally close management as the representative bank of Gwangju and Jeonnam. Especially during these difficult times due to 'COVID-19,' we will do our utmost to overcome this crisis together with the region and with the spirit of companionship with local residents.”

This content was produced with the assistance of AI translation services.