Gwangju Bank Achieves Record High Net Profit of 196.5 Billion KRW Last Year

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Gwangju Bank announced on the 14th that despite the economic downturn caused by COVID-19, its annual net profit (separate basis) last year reached a record high of 196.5 billion KRW.

This represents a 22.7% increase compared to the 160.2 billion KRW net profit in 2020, and operating profit also improved significantly, rising 23.7% from 211.8 billion KRW in 2020 to 262 billion KRW.

Through proactive soundness management, the bank maintained a non-performing loan ratio of 0.33% and a delinquency ratio of 0.31%, sustaining asset soundness at the highest level among domestic banks.

The BIS capital adequacy ratio stood at 16.48%, and the common equity tier 1 ratio was 15.28%, indicating a healthy level of capital adequacy.

These achievements are based on the role of regional economic guardian emphasized by Gwangju Bank President Song Jong-wook, who consistently stresses coexistence with the regional economy and companionship with local residents.

It is highly regarded as a result of strengthening the customer base and pursuing solid qualitative growth through regionally focused management that realizes the pursuit of "value beyond profit," practicing inclusive finance, and customer-centered field management.

In fact, since President Song Jong-wook took office, the bank has set new records every year, writing a new history and receiving recognition for these efforts.

President Song of Gwangju Bank said, “I thank the local residents and customers who have consistently supported us, enabling us to achieve the highest-ever performance last year and establish ourselves as the representative bank of Gwangju and Jeonnam. To repay that support, we will continue coexistence management based on customer value and social responsibility with the mission of being the region’s representative bank.”

He added, “Even amid the rapidly changing financial environment expected this year, we will continue to grow into a 100-year bank by repeatedly embracing change and innovation based on proactive response strategies such as expanding support for local SMEs and small business owners, securing digital competitiveness, and strengthening soundness management.”

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