IBK 1Q Net Profit 784.5 Billion KRW, Up 8.5% YoY

Outstanding SME Loans Reach 237.3 Trillion Won...Market Share Rises to 23.3%

IBK Industrial Bank announced on the 29th that its consolidated net profit for the first quarter of this year increased by 8.5% year-on-year to 784.5 billion KRW, and the bank's standalone net profit reached 711.1 billion KRW.

The outstanding balance of loans to small and medium-sized enterprises (SMEs) recorded 237.3 trillion KRW, an increase of 3.5 trillion KRW (1.5%) compared to the end of the previous year, and the market share also slightly rose to 23.31%.

The non-performing loan ratio at the end of the first quarter was 1.12%, up 0.07 percentage points (P) from the end of the previous year; however, due to a reduction in the allowance for loan losses, the loan loss expense ratio decreased by 0.42%P year-on-year to 0.39%.

An IBK Industrial Bank official stated, “This year as well, based on stable business performance, we will continue to strive to expand shareholder returns while practicing value finance that enhances the value of customers, the bank, and society together.”

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