Last Year’s Increased Performance of National Policy Banks Leads to Significant Dividend Growth
[Asia Economy Reporter Song Hwajeong] It has been revealed that national policy banks, which saw a significant increase in performance last year, also greatly increased their dividends.
According to the public institution management information disclosure system Alio on the 14th, the Export-Import Bank of Korea decided on dividends of 191.2 billion KRW based on last year's performance. This is a significant increase compared to 40.8 billion KRW the previous year. The Export-Import Bank's net profit last year was 481.7 billion KRW, a substantial increase from 98.1 billion KRW the previous year.
Earlier, the Korea Development Bank decided on dividends of 833.1 billion KRW, the highest ever. The Korea Development Bank recorded an operating net profit exceeding 1 trillion KRW last year due to asset expansion through fund supply of 83.2 trillion KRW and increased dividend income from investment assets. Additionally, HMM, which had been supported for management normalization through debt restructuring and financial support since 2016, achieved a successful turnaround, generating an additional profit of about 1.4 trillion KRW, resulting in a net profit of approximately 2.5 trillion KRW in 2021. Accordingly, dividends increased more than fourfold from 209.6 billion KRW the previous year. The Korea Development Bank has steadily increased dividends, with 144.9 billion KRW in 2019, 112.0 billion KRW in 2020, and 209.6 billion KRW in 2021.
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IBK Industrial Bank of Korea also decided on a year-end dividend of 780 KRW per share last year. This is also a significant increase compared to 471 KRW the previous year. IBK recorded its highest-ever performance last year, with annual net profit surpassing 2 trillion KRW. Including subsidiaries, IBK's consolidated net profit last year was 2.4259 trillion KRW, a 56.7% increase from the previous year. The bank's standalone net profit reached 2.0241 trillion KRW.
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