JB Financial, Q1 Net Profit of 173.2 Billion KRW... Highest Q1 Performance

6% Increase Year-on-Year
Quarterly Dividend of 105 KRW Cash per Common Share

JB Financial Group announced on the 22nd that it achieved a net profit of 173.2 billion KRW in the first quarter of this year. This figure represents a 6% increase compared to the same period last year. It is the highest net profit recorded for a first quarter.

Key profitability indicators showed a return on equity (ROE) of 13.8% and a return on assets (ROA) of 1.1%. JB Financial explained that these are the highest levels in the same industry. The cost-to-income ratio (CIR), an indicator of management efficiency, improved by 0.6 percentage points compared to the same period last year, reaching 37.3%, the lowest ever for a first quarter. The common equity tier 1 ratio was maintained at a stable level of 12.25%.

On the same day, the JB Financial Group board of directors decided on a quarterly dividend of 105 KRW per common share as part of its shareholder value enhancement and shareholder return policy. JB Financial Group is the only regional financial holding company to implement quarterly dividends and plans to continue strengthening shareholder returns in the future.

Despite the prolonged high interest rates, high inflation, and ongoing economic uncertainties, the group’s affiliates demonstrated solid performance based on profitability-focused sound management. Jeonbuk Bank and Gwangju Bank recorded 56.3 billion KRW and 73.3 billion KRW respectively, maintaining performance levels similar to the previous year. JB Woori Capital achieved a 15.3% increase from the previous year with a profit of 56.5 billion KRW. JB Asset Management posted a net profit of 2 billion KRW, JB Investment recorded 400 million KRW in net profit, and the subsidiary Phnom Penh Commercial Bank (PPCBank) in Cambodia achieved a 7.3% increase from the previous year with a profit of 7.1 billion KRW.