iM Financial Group Reports 154.5 Billion Won Net Profit in Q1... Non-Banking Profit Share Rises to 34%

iM Bank's Net Profit Decreases Year-on-Year

iM Financial Group announced on April 28 that its net profit attributable to controlling shareholders for the first quarter of this year reached 154.5 billion won, up by 200 million won (0.1%) compared to the same period last year.

Although net profit saw only a slight increase, iM Financial explained that interest income improved by 4.6% year-on-year, driven by growth in loan assets. In addition, non-interest income rose by 8.3% due to an increase in fee income, thereby enhancing the group's profitability.

The main subsidiary, iM Bank, recorded a net profit of 120.6 billion won in the first quarter, a decrease of 3.6% compared to the first quarter of last year (125.1 billion won). This was due to an 11.1% increase in selling and administrative expenses, including personnel expenses, and a 7.9% increase in provisions, both of which affected net profit.

However, both corporate and household loans grew evenly in the first quarter, reaching 59.3572 trillion won, which is a 3.6% increase compared to the first quarter of last year. The delinquency rate, which indicates asset soundness, was recorded at 0.96%, and the non-performing loan (NPL) ratio was 0.83%.

During the same period, iM Securities, iM Life, and iM Capital posted net profits of 21.7 billion won (down 7.7% year-on-year), 16.5 billion won (up 63.4%), and 19.3 billion won (up 31.3%), respectively.

The share of non-banking affiliates in the group’s total profit expanded from 15.5% in the first quarter of 2024 and 30.3% in the first quarter of last year to 34% this year.

Regarding the value-up plan, Byungkyu Chun, CFO and Executive Vice President of iM Financial Group, stated, "Following the shareholders' meeting resolution last March, we have secured a 290 billion won fund for a capital reduction dividend (tax-free dividend). As a result, we expect to see a tangible increase in dividend income in 2026. Going forward, we will continue to review and implement various measures to enhance shareholder value, including expanding the repurchase and cancellation of treasury shares."

Meanwhile, iM Financial Group announced a 40 billion won treasury share repurchase and cancellation plan in February. Separately, Chairman Byungwoo Hwang and other executives are also actively purchasing company shares.

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