IBK Industrial Bank, Last Year's Net Profit 2.4259 Trillion KRW... Up 56.7% YoY
IBK Industrial Bank Announces 2021 Business Performance
Net Income (Consolidated) 2.4259 Trillion KRW, Medium-Term Loan Balance Reaches 203.9 Trillion KRW
Continued Establishment of a Virtuous Cycle Where COVID-19 Crisis Support Leads to Bank Growth
[Asia Economy Reporter Song Hwajeong] IBK Industrial Bank of Korea announced on the 8th that its consolidated net profit, including subsidiaries, increased by 56.7% year-on-year to 2.4259 trillion KRW last year, while the bank's standalone net profit was 2.0241 trillion KRW.
The balance of SME loans rose by 17.1 trillion KRW (9.2%) compared to the end of the previous year to 203.9 trillion KRW, surpassing 200 trillion KRW for the first time in the financial sector. The market share in SME financing reached 22.8%, solidifying its position as the leading bank in SME finance.
An IBK official explained, "Asset growth through support for SMEs and small business owners such as ultra-low interest loans, stable soundness due to government policy effects, and increased subsidiary profits from efforts to diversify revenue sources contributed to the improved performance."
Due to improved performance of client companies centered on export firms and government policy effects, the loan loss expense ratio and total delinquency rate stood at stable levels of 0.36% and 0.26%, respectively. IBK stated, "As the COVID-19 situation prolonged, we sufficiently set aside loan loss provisions to secure loss absorption capacity against future risks."
For general subsidiaries, thanks to efforts to diversify revenue sources such as investments last year, net profit increased by 65.2% year-on-year to 423.3 billion KRW.
Hot Picks Today
!["Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①](https://cwcontent.asiae.co.kr/asiaresize/93/2026051914165468840_1779167814.png)
"Rather Than Endure a 1.5 Million KRW Stipend, I'd Rather Earn 500 Million in the U.S." Top Talent from SNU and KAIST Are Leaving [Scientists Are Disappearing] ①
- "Not Jealous of Winning the Lottery"... Entire Village Stunned as 200 Million Won Jackpot of Wild Ginseng Cluster Discovered at Jirisan
- "I'll Stop by Starbucks Tomorrow": People Power Chungbuk Committee and Geoje Mayoral Candidate Face Criticism for Alleged 5·18 Demeaning Remarks
- [New York Stock Exchange] All Major Indices Close Lower as U.S. Treasury Yields Surge
- "How Did an Employee Who Loved Samsung End Up Like This?"... Past Video of Samsung Electronics Union Chairman Resurfaces
An IBK official said, "This year, we will continue to support the innovative growth and competitiveness of SMEs through programs like the financial primary care program and expansion of venture capital supply. We will maintain a virtuous cycle structure where support for SMEs and small business owners struggling due to COVID-19 leads to the bank’s growth."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
