JB Financial, Q3 Net Profit of 193 Billion KRW... Up 15.4% YoY

Cumulative Net Profit of 563.1 Billion KRW... Record High
Quarterly Dividend of 105 KRW Cash per Common Share Decided

JB Financial Group announced on the 23rd that its net profit for the third quarter of this year reached 193 billion KRW, marking a 15.4% increase compared to the same period last year. It added that the cumulative net profit (controlling interest) up to the third quarter of this year was 563.1 billion KRW, a 14.1% increase year-on-year, achieving a record high performance.

Regarding key profitability management indicators, it explained that it recorded a Return on Equity (ROE) of 14.7% and a Return on Assets (ROA) of 1.18%, demonstrating the highest level of profitability within the same industry. The Cost-to-Income Ratio (CIR), an indicator of management efficiency, was 34.3%, marking the lowest level ever recorded. The Common Equity Tier 1 (CET1) ratio (provisional), an indicator of capital strength, was stably managed at 12.68%.

Regarding the performance of group affiliates, it explained that despite the ongoing economic uncertainties such as the downturn in the real estate market, they achieved favorable results based on profitability-centered sound management.

Jeonbuk Bank recorded a net profit of 173.2 billion KRW and Gwangju Bank recorded 251.1 billion KRW on a cumulative basis for the third quarter of this year. These figures represent increases of 8.5% and 16.7%, respectively, compared to the same period last year. JB Woori Capital posted a net profit of 182.5 billion KRW, up 22.7% from the same period last year. JB Asset Management and JB Investment each achieved net profits of 2.6 billion KRW, while the subsidiary Phnom Penh Commercial Bank (PPCBank) in Cambodia also recorded a net profit of 27.7 billion KRW, up 9.4% year-on-year.

Meanwhile, JB Financial Group will inject 150 billion KRW each by participating in the capital increase of Jeonbuk Bank and JB Woori Capital. The two companies stated that they are promoting a rights offering capital increase to strengthen capital adequacy.

Among regional financial holding companies (BNK, DGB, JB), JB Financial Group is the only one conducting quarterly dividends, and the board of directors decided on a third-quarter dividend of 105 KRW in cash per common share. JB Financial Group stated, “We plan to faithfully implement the ‘Corporate Value Enhancement Plan’ to strengthen shareholder returns, which was announced on September 24.”