BNK, JB and iM financial holding groups posted asset growth in the first quarter, but their profit structures diverged. Combined net profit rose 9.9 percent from a year earlier to 532 billion won. BNK’s profit jumped 26.9 percent, while JB and iM were little changed. Differences emerged in non-interest income, expenses and asset quality indicators. All three saw capital units strengthen their role in earnings and expanded shareholder return policies.

Major South Korean financial holding companies are on edge ahead of regular annual general meetings this month as financial authorities press for governance overhauls, including improved CEO reappointment procedures and stronger board independence. Reappointment votes for several chairmen, outside director appointments and articles-of-association changes are on agendas. Shareholder-return plans, including using capital reserves for dividends, will also be voted on. A debate over adopting a shareholder-nominated director system has also emerged.