JB Financial Group achieved a record half-year net profit nearing 400 billion won this year.
On July 23, JB Financial announced that its net profit for the second quarter was 219.6 billion won, a 5.7% increase compared to the same period last year. The cumulative net profit for the first half of the year reached 385.7 billion won, marking a 4.1% rise from the same period last year and setting a new record for the half-year.
The return on equity (ROE) for the second quarter was 13.0%, while the return on assets (ROA) stood at 1.07%. The cost-to-income ratio (CIR) was reported at 36.9%, and the common equity tier 1 capital ratio (CET1) was 12.52%. JB Financial stated, "Thanks to solid revenue growth and ongoing cost management, we improved our CIR and maintained stable capital adequacy."
Among its subsidiaries, JB Woori Capital led the overall performance with a second-quarter net profit of 104.1 billion won, more than a 42% increase from 73.2 billion won in the same period last year. Gwangju Bank also reported a second-quarter net profit of 85.6 billion won, up over 5% from 81.4 billion won a year earlier. In contrast, Jeonbuk Bank saw its second-quarter net profit decline to 54.6 billion won from 65.1 billion won last year, a decrease of about 16%.
Phnom Penh Commercial Bank (PPCBank) recorded a net profit of 14 billion won, while JB Investment reported 2.3 billion won, and JB Asset Management posted 400 million won in net profit.
Additionally, JB Financial's board of directors approved a quarterly cash dividend of 314 won per common share, the largest in its history. The board also decided to acquire and retire treasury stock worth 100 billion won.
A JB Financial representative stated, "We maintained profitability and capital adequacy based on the stable performance of our core subsidiaries, and we plan to continue our shareholder return policy to enhance corporate value."
On July 23, JB Financial announced that its net profit for the second quarter was 219.6 billion won, a 5.7% increase compared to the same period last year. The cumulative net profit for the first half of the year reached 385.7 billion won, marking a 4.1% rise from the same period last year and setting a new record for the half-year.
The return on equity (ROE) for the second quarter was 13.0%, while the return on assets (ROA) stood at 1.07%. The cost-to-income ratio (CIR) was reported at 36.9%, and the common equity tier 1 capital ratio (CET1) was 12.52%. JB Financial stated, "Thanks to solid revenue growth and ongoing cost management, we improved our CIR and maintained stable capital adequacy."
Among its subsidiaries, JB Woori Capital led the overall performance with a second-quarter net profit of 104.1 billion won, more than a 42% increase from 73.2 billion won in the same period last year. Gwangju Bank also reported a second-quarter net profit of 85.6 billion won, up over 5% from 81.4 billion won a year earlier. In contrast, Jeonbuk Bank saw its second-quarter net profit decline to 54.6 billion won from 65.1 billion won last year, a decrease of about 16%.
Phnom Penh Commercial Bank (PPCBank) recorded a net profit of 14 billion won, while JB Investment reported 2.3 billion won, and JB Asset Management posted 400 million won in net profit.
Additionally, JB Financial's board of directors approved a quarterly cash dividend of 314 won per common share, the largest in its history. The board also decided to acquire and retire treasury stock worth 100 billion won.
A JB Financial representative stated, "We maintained profitability and capital adequacy based on the stable performance of our core subsidiaries, and we plan to continue our shareholder return policy to enhance corporate value."
* This article has been translated by AI.
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