Gwangju Bank Achieves Record High 1Q Net Profit of 62.2 Billion Won

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Gwangju Bank announced on the 29th that it achieved a net profit of 62.2 billion KRW (separate basis) in the first quarter of 2022.

This is the highest first-quarter performance ever, with a 19.4% increase compared to the net profit of 52.1 billion KRW in the same period last year, and operating profit reached 82.8 billion KRW (69.7 billion KRW in the same period last year).

Maintaining the highest level of asset soundness in the banking sector with a non-performing loan ratio of 0.27% and a delinquency ratio of 0.29%, the BIS capital adequacy ratio stood at 15.91%, and the common equity tier 1 ratio was 15.03%. 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 community-based 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 Gwangju Bank President Song Jong-wook has always emphasized.

President Song Jong-wook of Gwangju Bank said, “With the sense of mission as the representative bank of Gwangju and Jeonnam, we will continue management that pursues ‘value beyond profit,’ leading excellent business performance based on customer value and social responsibility. 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 take the lead in practicing inclusive finance and social contribution activities by deepening coexistence relationships with local small and medium-sized enterprises and small business owners.”

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