Suhyup Bank Reports 237.6 Billion KRW Net Profit Last Year, Up 16% YoY

Sh Suhyup Bank announced on the 29th that its net profit for the year increased by 16% compared to the previous year (204.8 billion KRW), reaching 237.6 billion KRW.

Looking at profitability indicators, the loan-deposit interest rate spread rose by 0.13 percentage points from 1.56% to 1.69%, and the net interest margin (NIM) increased by 0.12 percentage points from 1.45% to 1.57%.

Regarding soundness indicators, the delinquency rate increased by 0.18 percentage points from 0.26% to 0.44%. The ratio of non-performing loans also rose by 0.14 percentage points from 0.42% to 0.56%. The loan loss provision coverage ratio decreased by 10.15 percentage points from 183.25% to 173.10%.

Kang Sin-suk, president of Suhyup Bank, said, "We will expand corporate and institutional customers and increase our client base to establish a stable funding structure," adding, "We will diversify revenue sources by revitalizing non-interest businesses."