A큐온 Savings Bank, Last Year's Net Profit 37 Billion Won 'Turned to Black'... BIS Ratio 12.44%

"Profitability and Soundness Improved"

Accuon Savings Bank announced on the 31st that it succeeded in turning a profit last year, recording a net income of 37 billion KRW.

To improve profitability, the business portfolio was reorganized to focus on personal credit loans (P-loan) and corporate credit loans. Efforts were concentrated on securing safe operating assets through the development and advancement of new alternative credit evaluation models. As a result, interest income increased by 19.7 billion KRW.

The bank pursued asset growth tasks centered on its core savings bank business. Real estate-related corporate loans, such as real estate project financing (PF), were reduced. Household credit was expanded based on strengthened mobile competitiveness. Along with expanding high-yield loan assets, demand deposits were increased to establish a low-cost funding system. Diversifying fund management improved the net interest margin.

Cost reduction and operational efficiency efforts were carried out simultaneously. Through the reorganization and improvement of the deposit product portfolio, interest expenses were reduced by 45.3 billion KRW, and proactive risk management cut bad debt write-offs by 28.6 billion KRW.

Soundness indicators were also managed systematically. Strategic sales and write-offs effectively managed and controlled non-performing assets and risk-weighted asset limits. The Basel Committee on Banking Supervision (BIS) capital adequacy ratio rose by 0.82 percentage points from 11.62% in 2023 to 12.44% last year.

This year, the bank plans to focus on 'sound asset-centered management' as its core strategy, concentrating on strengthening core business competitiveness and activating new growth engines.

The product lineup will be reorganized and customer-tailored products will be differentiated. The credit evaluation system will be refined to strengthen credit management. Asset soundness will be enhanced through the advancement of bond management models and analysis systems.

Kim Jeong-su, CEO of Accuon Savings Bank, said, "Last year, we systematically reorganized the business portfolio and innovated the cost structure, significantly improving profitability and turning a profit. Going forward, we will continue to strengthen our core competitiveness and focus on expanding customer-centered financial services to establish ourselves as a trusted financial company."