JB Financial Group said in a regulatory filing on the 23rd that it posted first-quarter net profit of 166.1 billion won, up 2.1% from a year earlier.
The group reported a return on equity attributable to controlling shareholders of 11.2% and a return on assets of 0.94%. Its preliminary common equity Tier 1 ratio stood at 12.61%, up 0.03 percentage points from the end of last year.
By affiliate, JB Woori Capital led results with net profit of 72.7 billion won, a 24.3% increase from a year earlier. Banking units Jeonbuk Bank and Gwangju Bank posted net profit of 39.9 billion won and 61.1 billion won, respectively, weighed down by higher selling, general and administrative expenses tied to special retirement programs and losses from securities valuation.
JB Asset Management and JB Investment reported net profit of 1.1 billion won and 3.0 billion won, respectively. The group’s second-tier subsidiary Phnom Penh Commercial Bank in Cambodia posted net profit of 12.4 billion won, up 21%.
JB Financial also said its board approved a quarterly cash dividend of 311 won per common share, about double the 160 won paid for the first quarter of last year.
* This article has been translated by AI.
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