JB Financial Group (Chairman Kim Ki-hong) announced on Aug. 2 that it achieved a cumulative net profit of 214.3 billion won in the first half of 2019. The figure represents a 15.0 percent on-year increase and the largest ever since the establishment of JB Financial Group in July 2013.
Amid the enhanced synergy effect through increased collaboration among JB affiliates, Jeonbuk Bank and Kwangju Bank, the group's key subsidiaries, continue to strengthen their profit competitiveness based on a stable procurement base and internal growth. In particular, Jeonbuk Bank achieved its first-half performance of 70.7 billion won, up 25.7 percent from a year earlier.
Kwangju Bank also achieved first-half earnings of 91.9 billion won, up 1.3 percent from a year earlier, continuing a steady flow of net profit. JB Woori Capital achieved a first-half profit of 44.3 billion won, slightly down 2.1 percent on-year due to the adjustment of its asset portfolio.
In addition, JB Financial Group's ordinary equity capital ratio rose 0.72%p from a year earlier and the BIS ratio rose 1.33%p. As a result, JB Financial Group achieved the 9.5 percent level required by financial authorities at an early date, paving the way for more aggressive shareholder return policies and internal growth.
Meanwhile, JB Financial Group Chairman Kim Ki-hong attended the IR for active communication with the market. "By improving our management structure, we will establish a stable growth base and a good risk management system," he said. "We also plan to build a sustainable profit base and become one of the smallest but most profitable financial groups."
