Suhyup Bank Reports Net Profit of 137.1 Billion KRW in First Half of the Year

Lee Dong-bin, President of Sh Suhyup Bank

[Asia Economy Reporter Minyoung Kim] Sh Suhyup Bank announced on the 30th that it achieved a pre-tax net income of 137.1 billion KRW in the first half of this year.

Total assets amounted to 50.8813 trillion KRW, and the non-performing loan ratio was recorded at 0.43%.

A representative of Suhyup Bank explained, "This is the result of all employees working together to achieve the vision of becoming the 'top mid-sized bank' despite the unprecedented situation caused by the novel coronavirus infection (COVID-19)." He added, "In terms of performance, we will surpass competing banks within the next three years to solidify our position as the top bank."

Meanwhile, on the 24th, a management strategy meeting was held at Suhyup Bank's headquarters in Songpa-gu, Seoul, under the theme of 'A Time of Change' to prepare for the post-COVID-19 era. At the meeting, President Dongbin Lee emphasized, "As the full-scale era of ultra-low interest rates arrives and the economic recession caused by COVID-19 is expected to continue, we must quickly establish an efficient marketing culture utilizing digital technology."

As key initiatives for the second half of the year, he presented five tasks: ▲ expanding the customer base through digital banking ▲ reducing funding costs ▲ increasing individual deposits ▲ increasing the number of transaction products ▲ ensuring soundness.

President Lee stated, "Let us make this year the first year of responding to the ultra-low interest rate era and transform into a creative and flexible organization based on digital technology," adding, "Digital innovation is ultimately the measure of our survival and an essential requirement for completing a customer-centric management system."

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