JB Financial’s net income jumps 31% in 2017
[THE INVESTOR] JB Financial Group on Feb. 9 reported its 2017 net income of 264.4 billion won (US$243.1 million), a 31 percent jump from a year ago. Net interest income also increased 29.7 percent to 185.1 billion won during the same period.
The group said it continued its two-digit bottom-line growth largely thanks to strong loan growth and asset quality improvement.
Two banking arms Jeonbuk Bank and Kwangju Bank reported net income of 80.2 billion won and 134.2 billion won, respectively, up 41.2 percent and 29.9 percent on-year. Jeonbuk Bank’s earnings included those of Phnom Penh Commercial Bank, the Cambodian bank it acquired in 2016.
Non-banking affiliate JB Woori Capital reported 71.2 billion won in net income.
By Lee Ji-yoon (firstname.lastname@example.org)