iM Financial Group announced on the 28th that its net income attributable to controlling shareholders for the first quarter of this year reached 154.3 billion KRW. This represents a 38.1% increase compared to the same period last year. According to iM Financial, this was due to a significant decrease in credit loss expenses across all subsidiaries, as the company focused on asset quality management. In particular, iM Securities, which had posted a loss last year due to large-scale provisions for credit losses, returned to profitability.
iM Bank posted a first-quarter net income of 125.1 billion KRW, up 4.7% year-on-year. While interest income declined due to loan growth management focused on profitability and a decrease in net interest margin (NIM) by 0.02 percentage points compared to the previous quarter, the overall performance remained solid as strengthened asset quality management led to a stabilized and lower credit loss expense ratio.
Among non-banking subsidiaries, iM Securities, which had recorded a cumulative loss of 158.8 billion KRW last year, achieved a net income of 27.4 billion KRW in the first quarter, returning to profitability for the first time in five quarters. iM Life and iM Capital also maintained a performance trend similar to the same period last year, contributing to the group's improvement in profitability.
A representative from iM Financial Group stated, "Following the resolution at the shareholders' meeting in March to change the group name to iM, our first management performance announcement exceeded market expectations, signaling a smooth start." The representative added, "However, as internal and external uncertainties continue to increase, we will continue to focus on managing asset profitability and quality, making 2025 the first year of performance recovery."
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