Finance

Four major financial groups\' Q1 results split as AI, digital finance spread

South Korea\'s financial sector has entered the first-quarter earnings season, with non-interest income and non-bank units driving diverging results among major financial holding companies. KB Financial Group, Shinhan Financial Group and Hana Financial Group posted record results, while Woori Financial Group recorded a decline. Strong stock markets lifted securities firms\' earnings, and new savings and investment products were launched. The industry is also accelerating a shift toward AI and digital finance, alongside calls for stronger controls and risk management.

Finance

IBK Industrial Bank of Korea Q1 net profit 7.534 trillion won, down 7.5 percent

IBK Industrial Bank of Korea said on April 24 it posted consolidated first-quarter net profit of 7.534 trillion won and separate net profit of 6.663 trillion won. Consolidated net profit fell 7.5 percent from a year earlier and separate net profit declined 12.4 percent. The bank cited a base effect from last year’s record first quarter and the impact of Iran-driven exchange rate variables.