IBK Industrial Bank's Net Profit Last Year 2.8 Trillion KRW, Up 15.3% YoY

Outstanding SME Loans at the End of January Last Year, 220.7 Trillion KRW
SME Finance Market Share 23.0%

[Asia Economy Reporter Shim Nayoung] IBK Industrial Bank of Korea (President Kim Sung-tae) announced on the 7th that its net profit (consolidated basis) last year increased by 15.3% compared to the previous year, reaching 2.7965 trillion KRW. The net profit on a separate basis was recorded at 2.4705 trillion KRW.

At the end of last year, the outstanding balance of loans to small and medium-sized enterprises (SMEs) increased by 16.8 trillion KRW (8.2%) compared to the end of the previous year, reaching 220.7 trillion KRW. The market share in SME financing was reported to be 23.0%.

The non-performing loan ratio remained the same as the end of the previous year at 0.85%, while the loan loss expense ratio and delinquency rate were 0.50% and 0.32%, respectively. A representative from IBK said, "This reflects a stable soundness level," adding, "In the fourth quarter, we also sufficiently provisioned loan loss reserves to proactively secure loss absorption capacity against future risks."

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