IBK Industrial Bank, H1 Net Profit 1.2143 Trillion KRW... 48% Increase

[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank announced on the 26th that its consolidated net profit for the first half of 2021 increased by 47.9% year-on-year to 1.2143 trillion KRW, and the bank's standalone net profit rose by 42.5% to 1.0178 trillion KRW.

The bank cited key factors for the profit increase as loan asset growth through expanded support for small and medium-sized enterprises (SMEs) and small business owners via ultra-low interest loans, improved performance of client companies centered on export firms, and favorable results from subsidiaries due to efforts to diversify revenue sources.

IBK's medium-term loan balance increased by 10.4 trillion KRW (5.6%) compared to the end of the previous year, reaching 197.2 trillion KRW, approaching 200 trillion KRW, and achieving a record-high market share of 23.1%. The number of SME clients also reached 1.999 million, nearing the milestone of 2 million.