South Korea's JB Financial Group Posts Record Q3 Profit, Declares Dividend
JB Financial Group reported record third-quarter and cumulative net profits, maintained strong capital ratios, and declared a quarterly dividend of 317 KRW per share.
South Korea's JB Financial Group announced on October 27 that its net profit attributable to controlling interests reached 210 billion KRW in the third quarter, up 0.8% year-on-year. Cumulative net profit for the first three quarters stood at 595.7 billion KRW, a 2.9% increase from the same period last year. Both figures represent all-time highs for the company.
Key operational metrics remained robust: the return on equity (ROE) was 13.3%, return on assets (ROA) was 1.08%, cost-to-income ratio (CIR) was 35.8%, and the provisional common equity tier 1 (CET1) ratio was 12.39%. The company noted that its asset rebalancing strategy kept the growth rate of risk-weighted assets (RWA) at 5.1%, significantly lower than the 10.0% growth in won-denominated loans, thereby enhancing capital efficiency.
Major subsidiaries contributed steady earnings: Jeonbuk Bank posted 72.5 billion KRW, Gwangju Bank 82.4 billion KRW, and JB Woori Capital 66.3 billion KRW. Overseas subsidiary Phnom Penh Commercial Bank (PPCBank) in Cambodia generated 14.3 billion KRW in net profit.
As part of its shareholder return policy, JB Financial Group's board of directors resolved to pay a quarterly dividend of 317 KRW per share.