IBK, Last Year's Net Profit 1.5 Trillion KRW... 4.1% Decrease YoY (Update)

SME Loan Balance 186.8 Trillion Won... Achieving Record High Market Share

IBK Industrial Bank Headquarters building.

[Asia Economy Reporter Kwangho Lee] IBK Industrial Bank announced on the 5th that its consolidated net profit, including subsidiaries, reached 1.5479 trillion KRW last year.

The bank's standalone net profit, excluding subsidiaries, was recorded at 1.2632 trillion KRW.

The balance of SME loans increased by 24.1 trillion KRW (14.8%) compared to the end of the previous year, reaching 186.8 trillion KRW. As a result, the market share rose by 0.5 percentage points to 23.1%, achieving an all-time high.

The bank explained that efforts to provide funding to small business owners and SMEs struggling due to the prolonged COVID-19 pandemic, as well as financial support for the growth of innovative companies, led to a high level of market share in the SME loan sector.

Interest-earning assets increased by 29.5 trillion KRW from the previous year to 285.5 trillion KRW, establishing a sustainable profit-generating base.

Additionally, proactive credit quality management resulted in a total delinquency rate improving by 10 basis points to 0.37%, and the loan loss cost ratio improving by 6 basis points to 0.61%, demonstrating sound credit quality indicators.

An IBK Industrial Bank official stated, "In 2021, we will continue solid growth by proactively responding to industrial structural changes, supporting SMEs through innovative finance, and systematically managing credit quality."

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