Gwangju Bank Achieves 52.1 Billion KRW Net Profit in Q1

Song Jong-wook, President of Gwangju Bank

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 30th that it achieved a net profit of 52.1 billion KRW (separate basis) in the first quarter of 2021. This represents an 11.6% increase compared to the net profit of 46.7 billion KRW in the same period last year, and operating profit reached 69.7 billion KRW (63.1 billion KRW in the same period last year).

With a favorable profitability indicator of NIM (Net Interest Margin) at 2.21%, the bank maintains top-tier asset soundness in the banking sector with a non-performing loan ratio of 0.44% and a delinquency ratio of 0.39%. The BIS capital adequacy ratio stands at 17.90%, and the common equity tier 1 ratio is 16.03%. Despite the COVID-19 crisis, the bank closed the first quarter of this year with a strong start based on customer-oriented management and field-centered management.

These achievements are seen as the result of solid qualitative growth pursued through regional proximity management and customer-centered field management that realize the "pursuit of value beyond profit," based on coexistence with the region and companionship with local residents, which President Song Jong-wook of Gwangju Bank has always emphasized.

President Song Jong-wook of Gwangju Bank stated, “With the mission of being the representative bank of Gwangju and Jeonnam, we will continue management that pursues ‘value beyond profit’ based on customer value and social responsibility to achieve excellent management performance. We will overcome the rapidly changing management environment through bold challenges armed with change and innovation. As difficulties in the regional economy are expected, we will actively lead inclusive finance practices and social contribution activities by supporting local small and medium-sized enterprises and small business owners and deepening coexistence relationships with the region.”

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