JB Financial Posts Record High Net Profit of 370.1 Billion KRW in First Half of the Year

13.5% YoY Increase
1.969 Billion KRW in Q2... 21% Increase

JB Financial Group announced on the 25th that it achieved a net profit of 370.1 billion KRW in the first half of this year. This represents a 13.5% increase compared to the same period last year and is the largest half-year performance in history, according to JB Financial. The net profit for the second quarter was 196.9 billion KRW, a 21% increase year-on-year.

In key management indicators, the group recorded a return on equity (ROE) of 14.7% and a return on assets (ROA) of 1.17%, 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 34.1% due to increased sales and cost reduction efforts. The common equity tier 1 ratio (provisional) was managed at a stable level of 12.51%.

On the same day, the board of directors decided to pay a quarterly dividend of 105 KRW per common share and to acquire treasury shares worth 30 billion KRW through a trust contract as part of enhancing shareholder value and shareholder return policies. JB Financial plans to continuously strengthen shareholder returns, being the only regional financial holding company to implement quarterly dividends.

Meanwhile, its affiliates showed strong performances: Jeonbuk Bank posted a net profit of 112.7 billion KRW, up 10% year-on-year; Gwangju Bank achieved 161.1 billion KRW, up 13.7%; JB Woori Capital reached 123.6 billion KRW, up 21.4%. JB Asset Management recorded a net profit of 1.5 billion KRW, and JB Investment posted 700 million KRW in earnings. The subsidiary Phnom Penh Commercial Bank (PPCBank) in Cambodia reported a net profit of 16.6 billion KRW, an 18% increase year-on-year.

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