JB Financial Group, led by Chairman Kim Ki-hong, broke its all-time high performance last year. It has surpassed its highest performance in net profit for two consecutive years.
JB Financial Group made an announcement on Feb. 8 that it has achieved 363.5 billion won in net profit in 2020. This is the highest performance ever since the establishment of a holding company, which is an increase of 6.3 percent compared to the performance achieved in 2019.
It achieved the highest level of profitability in the same industry for the second consecutive year by recording a controlling interest of ROE 10.1 percent and ROA 0.77 percent in major management indicators. In particular, JB Financial Group is the only financial group to exceed 10% of ROE.
At the same time, the ratio of common stock capital ratio (temporary) rose 0.38% points year-on-year to 10.05%, maintaining a solid double-digit ratio.
This year, it is planning to focus more on its organization's capabilities to achieve 11% mid- to long-term goals. The BIS ratio (temporary) also improved 0.06% points from last year to 13.22%, laying the foundation for strengthening shareholder return policy.
In addition, the overall asset health index continued to stabilize downward by promoting preemptive risk management policies in preparation for internal and external economic uncertainties.
As the asset soundness index, the none performing loan ratio reached 0.67%, 0.21 percentage points improvement from the end of last year, and the overdue rate reached 0.57 percent, 0.09 percentage points improvement from the end of last year.
The loss ratio (group-based) was 0.48%, but it improved 0.05% point from the previous year to 0.33% excluding one-off factors such as setting aside 60.7 billion won in provisions to prepare for the COVID-19 situation, the bank explained.
Kim Ki-hong, chairman of JB Financial Group, has focused on establishing an internal management and preemptive risk management system since taking office, and has achieved his best performance for the second consecutive year since 2019, continuing the highest return in the same industry.
Chairman Kim, who attended the group's earnings announcement every quarter since taking office, said, "Although internal and external economic conditions are uncertain due to the spread of COVID-19, we plan to continue the group's growth through stable growth and profitability-oriented internal management and synergy."
