20% More Profit

 

Last year's net income of the Industrial Bank of Korea (IBK), including affiliates like IBK Capital and IBK Securities, reached 1.32 trillion won (US$1.20 billion).

This figure is 20.8 percent higher than that of the previous year (854.2 billion won, US$779.7 million). However, the net profit in the fourth quarter (178.7 billion won, US$163.1 million) decreased 23.6 percent lower from a year ago (233.38 billion won, US$213.05 million). 

Although the net profit, excluding subsidiaries, was 935 billion won (US$853 million), which increased 15.2 percent higher than the previous (812 billion won, US$741 million), the net profit in the fourth quarter recorded 154.9 billion won (US$141.4 million), which decreased 23.7 from a year before (203.1 billion won, US$185.3 million). The annual net income margin (NIM) reached 1.95 percent, up 0.02 percent from a year ago. 

The balance of loans for small and medium-sized business increased 116.1 trillion won (US$106.0 billion), up 7.3 trillion won (US$6.7 billion, 6.7 percent) from the previous year, maintaining the first position in the loan market share (22.6 percent) for small and medium-sized companies.

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