JB Financial Group Posts Record-High Net Profit of 208.3 Billion Won in Q3

Up 7.9% Year-on-Year
Cumulative Net Profit Reaches 578.7 Billion Won
2.8% Increase Compared to Last Year
Quarterly Cash Dividend of 160 Won per Common Share
40 Billion Won Worth of Treasury Shares to Be Acquired and Cancelled

JB Financial Group announced that its consolidated net profit attributable to controlling interests for the third quarter of this year reached 208.3 billion won, marking a 7.9% increase compared to the same period last year. The cumulative net profit for the year amounted to 578.7 billion won, a 2.8% increase year-on-year, setting record-high net profits for both the third quarter and the cumulative period.

In terms of key management indicators, the group recorded a return on equity (ROE) of 13.5% and a return on assets (ROA) of 1.15%, maintaining top-tier profitability indicators within the industry. The cost-to-income ratio (CIR), an indicator of management efficiency, was managed at a stable level of 34.8%.

JB Financial Group has been continuously advancing its asset rebalancing strategy, further strengthening its qualitative growth strategy centered on RORWA and expanding the proportion of its core businesses. As a result, the common equity tier 1 (CET1) ratio (provisional) rose by 32 basis points (1bp = 0.01 percentage points) from the previous quarter to 12.72%, maintaining solid capital adequacy.

On a cumulative basis through the third quarter of this year, Jeonbuk Bank posted a net profit of 178.4 billion won, while Gwangju Bank recorded 233.6 billion won. JB Woori Capital achieved a net profit of 211.6 billion won, a 16% increase compared to the same period last year, driving the group's growth, according to JB Financial Group. JB Asset Management and JB Investment posted results of 4.3 billion won and 6.1 billion won, respectively. The group's overseas subsidiary, Phnom Penh Commercial Bank (PPCBank) in Cambodia, achieved a result of 37 billion won, up 33.6% year-on-year.

The board of directors of JB Financial Group decided on a quarterly cash dividend of 160 won per common share and the acquisition and cancellation of treasury shares worth 40 billion won through a trust contract as part of its shareholder return policy aimed at enhancing shareholder value. JB Financial Group stated that it plans to continue strengthening its shareholder return policy based on a stable capital ratio going forward.

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