JB Financial Group Reports Q1 Net Profit of 166.1 Billion Won, Up 2.1% Year-on-Year on Strong Non-Banking Performance
by Lee Kimin
Published 23 Apr.2026 17:16(KST)
Net Profit Declines for Key Subsidiaries Jeonbuk Bank and Kwangju Bank
JB Woori Capital Records 24.3% Year-on-Year Increase in Net Profit
Chairman Kim Kimoon: "We Will Achieve a 50% Shareholder Return Rate"
JB Financial Group announced on April 23 that its net profit for the first quarter of this year reached 166.1 billion won, a 2.1% increase from the same period last year (162.8 billion won).
Despite sluggish performance from its main banking subsidiaries, the group saw an increase in net profit, driven by the strong performance of its non-banking affiliates.
JB Woori Capital delivered earnings of 72.7 billion won, up 24.3% year-on-year, leading the group’s overall results. Its indirect subsidiary, Phnom Penh Commercial Bank (PPCBank) in Cambodia, also reported a 21% increase in net profit, reaching 12.4 billion won compared to the same period last year.
On the other hand, Jeonbuk Bank’s net profit for the first quarter was 39.9 billion won, down 22.5% from the previous year (51.5 billion won). Kwangju Bank also posted 61.1 billion won, representing an 8.7% drop from the first quarter of last year. JB Financial explained that these weak results were due to increased general and administrative expenses from special retirement programs, as well as the impact of securities valuation.
Nevertheless, in major management indicators, the group is expected to maintain top-tier profitability ratios in the industry, with a controlling interest return on equity (ROE) of 11.2% and a return on assets (ROA) of 0.94%. The Common Equity Tier 1 (CET1) ratio (provisional) also improved by 0.03 percentage points from the end of last year, reaching 12.61%.
On the same day, the board of directors resolved to pay a quarterly cash dividend of 311 won per common share. This is roughly double the dividend of 160 won per share paid in the first quarter of last year. JB Financial will also transition to a ‘quarterly equal dividend system’ starting from the first quarter of this year, while meeting the requirements for high-dividend companies.
Kim Kimoon, Chairman of JB Financial Group, said during a conference call, "We will achieve our annual net profit guidance and implement a shareholder return rate of 50%. JB Financial Group will actively pursue cost reduction and revenue generation projects across the group through process innovation, aiming to become the ‘first mover’ in the transition to artificial intelligence (AX)."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.