Result Reflecting Last Year's Net Profit Performance of 2.5 Trillion Won
On the 29th, Korea Development Bank held its regular shareholders' meeting and decided to pay dividends amounting to 878.1 billion KRW, the largest scale ever.
The bank explained that this reflects last year's performance, which recorded a net profit of 2.5 trillion KRW. Korea Development Bank strengthened its recurring profit base by expanding assets through the supply of 86.5 trillion KRW in funds, including fostering future strategic industries with a significant lead and supporting green finance. Additionally, it earned extra profits by large-scale reversals of loan loss provisions through successful restructuring, such as Hanwha Group's acquisition of the former Daewoo Shipbuilding & Marine Engineering (Hanwha Ocean).
Since 2018, Korea Development Bank has paid dividends to the government for seven consecutive years, contributing to strengthening the government's fiscal soundness. It is expected that this record-high dividend payment will help secure government fiscal revenue. The bank paid dividends of 209.6 billion KRW in 2021, 833.1 billion KRW in 2022, and 164.7 billion KRW in 2023 to the government.
The bank stated, "As a leading domestic policy financial institution, we have successfully completed major restructuring issues and achieved seven consecutive years of profits by establishing a stable profit base, securing the capacity to absorb losses related to policy finance activities such as corporate restructuring and venture capital investment."
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