BNK Financial Group's net profit for the first half of this year has declined compared to last year. Although both interest and non-interest income grew, one-time accounting costs related to the liquidation of a real estate fund impacted the results.
On July 28, BNK Financial announced that its consolidated net profit for the first half of 2026 was 411.8 billion won, a decrease of 64 billion won (13.5%) from 475.8 billion won in the same period last year.
The group's total interest income rose by 5.6% to 1.7648 trillion won. Non-interest income from fees and other sources also increased by 54.6% and 1.4%, respectively.
However, the decline in net profit was influenced by a base effect from the liquidation profit of the BNK Gangnam Core Office Fund (544 billion won) recorded in the first half of last year, as well as a temporary accounting loss of 44 billion won from the acquisition of external shares in the Yeouido Core Office Fund.
By subsidiary, BNK Busan Bank reported a net profit of 201.2 billion won, down 20.1%, while BNK Gyeongnam Bank saw a 2.3% decrease to 155 billion won.
In contrast, the non-banking sector showed significant growth, with net profit rising approximately 58.6% to 172.6 billion won compared to 108.8 billion won in the same period last year.
Thanks to a booming stock market, BNK Investment Securities and BNK Asset Management reported impressive results. BNK Investment Securities' net profit surged by about 102.7% to 45.6 billion won, while BNK Asset Management's net profit skyrocketed by 224.1% to 37.6 billion won. The largest subsidiary, BNK Capital, achieved a net profit of 78.7 billion won, reflecting a growth of about 13.1% from 69.6 billion won in the same period last year. BNK Savings Bank also recorded a net profit of 7.1 billion won, an increase of approximately 47.9%.
As of the end of June, the group's ratio of non-performing loans was 1.46%, down 0.11 percentage points from the previous quarter. The delinquency rate also decreased to 1.34%, down 0.08 percentage points, due to a reduction in non-performing loans and delinquent amounts related to real estate project financing.
However, the common equity tier 1 capital ratio (CET1) fell to 12.14%, down about 0.42 percentage points from 12.56% in the same period last year.
Park Seong-wook, CFO and Vice President of BNK Financial, stated, "The decrease in net profit compared to the same period last year is due to the base effect from the sale profit of the Gangnam BNK Digital Tower. Excluding one-time factors related to real estate funds, the ordinary net profit for the first half is 455.8 billion won, reflecting an increase of about 8.2% compared to the same period last year, indicating steady improvement in the profitability of our core operations."
Additionally, BNK Financial's board of directors resolved to pay a quarterly cash dividend of 150 won per share. The company also decided to cancel all of the approximately 3.49 million shares (worth about 60 billion won) it repurchased in the first half of this year during the third quarter.
On July 28, BNK Financial announced that its consolidated net profit for the first half of 2026 was 411.8 billion won, a decrease of 64 billion won (13.5%) from 475.8 billion won in the same period last year.
The group's total interest income rose by 5.6% to 1.7648 trillion won. Non-interest income from fees and other sources also increased by 54.6% and 1.4%, respectively.
However, the decline in net profit was influenced by a base effect from the liquidation profit of the BNK Gangnam Core Office Fund (544 billion won) recorded in the first half of last year, as well as a temporary accounting loss of 44 billion won from the acquisition of external shares in the Yeouido Core Office Fund.
By subsidiary, BNK Busan Bank reported a net profit of 201.2 billion won, down 20.1%, while BNK Gyeongnam Bank saw a 2.3% decrease to 155 billion won.
In contrast, the non-banking sector showed significant growth, with net profit rising approximately 58.6% to 172.6 billion won compared to 108.8 billion won in the same period last year.
Thanks to a booming stock market, BNK Investment Securities and BNK Asset Management reported impressive results. BNK Investment Securities' net profit surged by about 102.7% to 45.6 billion won, while BNK Asset Management's net profit skyrocketed by 224.1% to 37.6 billion won. The largest subsidiary, BNK Capital, achieved a net profit of 78.7 billion won, reflecting a growth of about 13.1% from 69.6 billion won in the same period last year. BNK Savings Bank also recorded a net profit of 7.1 billion won, an increase of approximately 47.9%.
As of the end of June, the group's ratio of non-performing loans was 1.46%, down 0.11 percentage points from the previous quarter. The delinquency rate also decreased to 1.34%, down 0.08 percentage points, due to a reduction in non-performing loans and delinquent amounts related to real estate project financing.
However, the common equity tier 1 capital ratio (CET1) fell to 12.14%, down about 0.42 percentage points from 12.56% in the same period last year.
Park Seong-wook, CFO and Vice President of BNK Financial, stated, "The decrease in net profit compared to the same period last year is due to the base effect from the sale profit of the Gangnam BNK Digital Tower. Excluding one-time factors related to real estate funds, the ordinary net profit for the first half is 455.8 billion won, reflecting an increase of about 8.2% compared to the same period last year, indicating steady improvement in the profitability of our core operations."
Additionally, BNK Financial's board of directors resolved to pay a quarterly cash dividend of 150 won per share. The company also decided to cancel all of the approximately 3.49 million shares (worth about 60 billion won) it repurchased in the first half of this year during the third quarter.
* This article has been translated by AI.
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