JB Financial, 3Q Net Profit 167.3 Billion KRW... Cumulative Record High

JB Financial Group announced on the 24th that its net income attributable to controlling shareholders for the third quarter increased by 0.1% year-on-year to 167.3 billion KRW. The cumulative net income up to the third quarter rose by 1.3% to 493.4 billion KRW, achieving a record high performance.

In key management indicators, the return on equity (ROE) attributable to controlling interests was 13.7%, and the return on assets (ROA) was 1.11%, maintaining the highest profitability indicators in the same industry. The cost-to-income ratio (CIR), an indicator of management efficiency, reached a record low of 35.8%, thanks to expanded sales and continuous cost management efforts.

Additionally, the common equity tier 1 ratio (provisional) increased by 1.02 percentage points to a record high of 12.45%. Based on the improved capital ratio, JB Financial plans to continue pursuing shareholder return policies to enhance shareholder value.

By affiliate, Jeonbuk Bank achieved 159.6 billion KRW, up 0.1%, and Gwangju Bank recorded 215.1 billion KRW, up 5.6%. JB Woori Capital posted a net income of 148.7 billion KRW, JB Asset Management recorded 7.8 billion KRW, and the subsidiary Phnom Penh Commercial Bank (PPCBank) in Cambodia achieved a 10.5% increase to 25.3 billion KRW.

JB Financial stated, "Despite the worsening domestic and international uncertainties due to persistent high inflation and a downturn in the real estate market, the group’s affiliates demonstrated solid performance based on profitability-focused internal management."

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