JB Financial Group announced today that it recorded a net profit of KRW 601 billion in 2022.
JB Financial Group explained that this is the largest performance ever, an increase of 18.6% from the previous year.
By subsidiaries, Jeonbuk Bank recorded KRW 207.6 billion in net profit, up 13.5% from the previous year, Kwangju Bank recorded KRW 258.2 billion in net profit, up 33.0%, and JB Woori Capital recorded KRW 178.5 billion in net profit, up 4.7% from the previous year.
It added that the return on equity (ROE) of controlling interest, which is a key management indicator, was 13.9%, and the return on total assets (ROA) was 1.05%, the highest in the same industry.
The Cost Income Ratio (CIR), a management efficiency indicator, recorded 39.7%, an improvement of 6.5% points from the previous year, thanks to increased interest income and cost reduction efforts.
"Uncertainties in the domestic and international economic conditions and financial markets are still high," said Chairman Kim Ki-hong. "However, this year, we will continue the group's stable growth by focusing on profitable management based on preemptive risk management."
