The Industrial Bank of Korea announced on the 25th that it recorded a net profit of 814.2 billion won in the first quarter of this year. This is a 3.8% increase compared to the same period last year, marking the highest level ever for a quarter.
Notably, the bank achieved remarkable results in the institutional sector of small and medium-sized enterprise loans. In the first quarter alone, the Industrial Bank of Korea increased loans to small and medium-sized enterprises by over 6.4 trillion won, raising its market share to 24.18%.
Indicators of asset soundness were also managed stably. The ratio of non-performing loans remained at 1.34%, the same level as at the end of last year, and thanks to proactively set aside additional provisions, the loan loss rate slightly decreased to 0.36% compared to the same period last year.
A representative of the Industrial Bank of Korea said, “In response to the uncertain domestic and external situations, we will strive to continue the growth formula of IBK, where overcoming crises leads to a cycle of growth, by fulfilling our role as a policy financial institution.”