BNK Financial Group's Net Profit for the First Half of the Year is 460.2 Billion KRW, Decreasing by 44.9 Billion KRW Compared to the Same Period Last Year

BNK Financial Group announced on the 26th that its consolidated net profit for the first half of this year was 460.2 billion KRW, a decrease of 44.9 billion KRW compared to the same period last year.

Busan Bank's net profit during the same period increased by 8.4% to 266.2 billion KRW. Gyeongnam Bank recorded 161.3 billion KRW, up 1.4% during the same period.

BNK Capital's net profit decreased by 40% to 71.2 billion KRW during the same period. The decline in both interest income and non-interest income, along with an increase in provisions for non-performing assets, is analyzed as the cause of the reduced profit. BNK Investment & Securities saw an increase in interest income and securities-related profits, but project financing (PF) operations shrank due to the real estate market downturn, leading to a decrease in related fees. As a result, net profit fell by 60.5% to 18.8 billion KRW during the same period.

BNK Investment Bank turned to a loss in the first half, recording a deficit of 800 million KRW. On the other hand, asset management posted a net profit of 5.8 billion KRW, returning to the black. This is attributed to increased gains from collective investment securities and convertible bond valuations.

Ha Geun-cheol, Head of Brand Strategy at BNK Financial Group, stated, "As the first regional financial company to enhance shareholder value, we will completely cancel the treasury shares held by the group (3,846,808 shares) on the 10th of next month," and added, "As the first domestic financial holding company, we plan to improve the dividend process to allow investors to confirm the dividend amount and timing in advance, enabling mid-term dividends."

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