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Finance

Regional financial holdings post mixed Q1 net profit results despite asset growth

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.

Finance

Woori Financial posts 603.8 billion won Q1 net profit, down 2.1 percent

Woori Financial Group said on April 24 its first-quarter net profit fell 2.1 percent from a year earlier to 603.8 billion won, citing reduced securities and foreign-exchange related gains amid heightened market volatility linked to Middle East conflict and one-off provisions tied to overseas units. Net operating revenue rose 5.6 percent to 2.76 trillion won, supported by higher interest and non-interest income. Costs increased and asset-quality indicators weakened, while its CET1 ratio improved to a record 13.6 percent.

Finance

KB Financial Q1 net profit 1.8924 trillion won, up 11.5 percent on year

KB Financial Group said first-quarter net profit rose 11.5 percent from a year earlier to 1.8924 trillion won, helped by higher fee income at its bank, securities and asset management units despite increased market volatility. Non-bank units raised their contribution to fee income and net profit. Key capital and soundness metrics stayed stable, with a CET1 ratio of 13.63 percent and a BIS ratio of 15.75 percent as of end-March.