Korea Citibank Conducts Interim Dividend for Second Consecutive Year

"Decrease in Risk-Weighted Assets and Increase in Net Income"

Korea Citibank announced on May 29 that it will conduct an interim dividend for the second consecutive year. The previous day, Korea Citibank resolved to pay a cash interim dividend of approximately 230.1 billion KRW. The scheduled payment date is in July.

Citibank is 99.98% owned by Citibank Overseas Investment Corporation of the United States. Citigroup in the United States holds a 100% stake in this company. In simple terms, most of Korea Citibank's dividends are transferred to its U.S. headquarters.

Citibank stated, "Since 2021, we have been gradually phasing out consumer finance and focusing on the growth of corporate finance as part of a strategic restructuring. As a result, risk-weighted assets have decreased while net income has increased. Since the fourth quarter of 2023, our capital ratio has exceeded 30% and is expected to continue rising."

The bank added, "To improve capital efficiency, we are conducting an interim dividend of about 230 billion KRW this year. The impact of this interim dividend on our financial stability is expected to be limited."

Citibank conducted an interim dividend of approximately 400 billion KRW in October last year, which was the first interim dividend in five years since 2018. In February of this year, the bank also resolved a year-end dividend of 155.9 billion KRW.

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