iM Financial Group Reports 309.3 Billion KRW Net Profit in First Half, Up 106.2% Year-on-Year

Additional 20 Billion KRW in Treasury Shares to Be Repurchased and Retired

iM Financial Group announced that its net profit attributable to controlling shareholders for the first half of this year reached 309.3 billion KRW. This figure represents a 106.2% increase compared to the same period last year. iM Financial Group stated, "iMBank significantly improved its profitability by focusing on growth in high-quality assets and managing soundness," and added, "iMSecurities continued its streak of profitability for two consecutive quarters, and loan loss expenses decreased significantly across all affiliates."

By affiliate, iMBank recorded a net profit of 256.4 billion KRW, a 22% increase year-on-year. iMBank managed to defend its net interest margin (NIM) decline (down 0.01 percentage points) by focusing on loan growth centered on high-quality credit and minimizing the impact of declining market interest rates. Non-interest income showed strong performance, and the loan loss expense ratio stabilized downward, resulting in a significant increase in net profit compared to the previous year, according to iM Financial Group.

iMSecurities, which had recorded losses for five consecutive quarters until last year due to large-scale project financing (PF) provision accumulation, posted a net profit of 26.7 billion KRW in the second quarter of this year. After turning a profit for the first time in the first quarter, its cumulative net profit for the first half of the year reached 54.1 billion KRW. iMLife and iMCapital also reported first-half net profits of 13.8 billion KRW and 29.7 billion KRW, respectively.

Meanwhile, the board of directors of iM Financial Group resolved to repurchase and retire an additional 20 billion KRW worth of treasury shares. The value enhancement plan for iM Financial Group, announced in October last year, includes a plan to repurchase and retire 150 billion KRW worth of treasury shares by 2027. With this resolution, the implementation rate of the plan increases to 40%.

An iM Financial Group official stated, "With the possibility of annual performance recovery increasing, we announced an additional 20 billion KRW treasury share repurchase and retirement, which allows us to expand shareholder returns," and added, "This year marks the first year of implementing our value enhancement plan, and we will do our utmost to achieve the three-year plan's goals ahead of schedule by delivering results that meet expectations through 2027."