IBK Industrial Bank's H1 Net Profit 1.4 Trillion KRW... Up 19.4% YoY
Outstanding SME Loans Reach 230.2 Trillion Won
Market Share Hits Record High of 23.4%
IBK Industrial Bank (President Kim Sung-tae) announced that its consolidated net profit for the first half of this year increased by 19.4% compared to the same period last year, reaching 1.3904 trillion KRW, driven by growth in SME loans. The net profit on a separate basis recorded 1.2004 trillion KRW, up 15.9%.
The outstanding balance of SME loans in the first half of this year grew by 9.5 trillion KRW (4.3%) compared to the end of last year, reaching 230.2 trillion KRW. The market share also expanded to a record high of 23.4%.
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An IBK Industrial Bank official stated, "The non-performing loan ratio was 0.98%, and the loan loss cost ratio and delinquency rate were 0.73% and 0.54%, respectively, indicating stable management. We have also sufficiently set aside additional provisions to proactively secure loss absorption capacity against future risks, thereby laying a foundation for stable growth going forward."
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