IBK, SME Loan Balance Reaches 200 Trillion Won... Market Share 23.02%
Yoon Jong-won, CEO of Industrial Bank of Korea: "Supporting SMEs is the Reason for IBK's Existence"
[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank of Korea announced on the 1st that it is the first financial institution to exceed 200 trillion KRW in outstanding loans to small and medium-sized enterprises (SMEs).
IBK's SME loans surpassed 100 trillion KRW in March 2012 and 150 trillion KRW in September 2018, reaching 200 trillion KRW in about three years. Its market share rose to 23.02%, up 1.29 percentage points from 21.73% at the time of reaching 100 trillion KRW, maintaining the industry's top position.
Through expanding support for SMEs and growth in loan assets, IBK's consolidated net profit exceeded 1 trillion KRW in the first half of this year, and the number of client companies surpassed 2 million.
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Yoon Jong-won, President of IBK, stated, "Under the principle that 'supporting SMEs is the reason for IBK's existence,' we have faithfully fulfilled the role of a policy bank," adding, "We will continue to expand the competitive gap in SME finance based on innovative and inclusive finance."
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