The Bank of Korea Reports Last Year's Net Profit of 7.3659 Trillion Won, Up 2.0528 Trillion Won from Previous Year
The Bank of Korea Publishes '2020 Annual Report' on the 31st
Total Revenue Reaches 19.8654 Trillion KRW...Dollar Share Declines
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[Asia Economy Reporter Jang Sehee] The Bank of Korea's net profit last year increased by more than 2 trillion won, reaching 7.3659 trillion won. This was due to increased gains from foreign currency securities trading amid falling international interest rates and rising overseas stock prices, as well as decreased interest expenses on monetary stabilization bonds following the base interest rate cut.
On the 31st, the Bank of Korea disclosed the "2020 Annual Report" and announced these results. However, the Bank of Korea's revenue structure differs from that of general banks. Most of its profits come from foreign currency asset management income (interest income and trading gains), while interest expenses on monetary stabilization bonds are the main expenditure item.
The Bank of Korea's total revenue last year was 19.8654 trillion won, and total expenses were 9.6764 trillion won.
The corporate tax paid by the Bank of Korea last year was 2.8231 trillion won, marking an all-time high.
Among the foreign currency assets held by the Bank of Korea (excluding International Monetary Fund positions, gold, and special drawing rights), the proportion of dollar-denominated assets stood at 67.7% at the end of last year, down 1.4 percentage points compared to the end of 2019.
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Within the Bank of Korea's foreign currency assets, cash equivalents accounted for 5.1%, direct investment assets 73.9%, and entrusted assets 21.0%. By product, government bonds and government agency bonds accounted for 44.5% and 14.4%, respectively, showing a decrease compared to the previous year. Conversely, corporate bonds (13.6%) increased by 0.2 percentage points, and stocks (8.9%) also rose by 0.2 percentage points.
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