The Bank of Korea Reports Record High Net Profit of 7.8638 Trillion Won Last Year, Up 498 Billion Won from Previous Year

The Bank of Korea Publishes '2021 Annual Report'

[Image source=Yonhap News]

[Asia Economy Reporter Seo So-jeong] The Bank of Korea's net profit for last year increased by 498 billion KRW to record 7.8638 trillion KRW. This was due to increased gains from securities trading amid the global stock market boom and decreased interest expenses on monetary stabilization bonds.

On the 31st, the Bank of Korea disclosed the '2021 Annual Report' and revealed these figures. However, the Bank of Korea's revenue structure differs from that of general banks. Most of the profits come from foreign currency asset management income (interest income and trading gains), and interest expenses on monetary stabilization bonds are the main expenditure item.

The Bank of Korea's total revenue last year was 19.0384 trillion KRW, and total expenses were 8.2729 trillion KRW.

The corporate tax paid by the Bank of Korea last year was 2.8775 trillion KRW, 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 was 68.3% at the end of last year. This represents a 0.6 percentage point increase compared to the end of 2020.

Among the Bank of Korea's foreign currency assets, cash equivalents accounted for 5.2%, direct investment assets 72%, and entrusted assets 22.8%.

By product, government bonds accounted for 44.9%, an increase of 0.4 percentage points from the previous year. The proportions of government agency bonds and corporate bonds were 14.1% and 12.9%, respectively, both decreasing compared to the previous year. The stock proportion was 10.4%, up 1.5 percentage points from the previous year.

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