BNK Financial Group announced on the 25th that its consolidated net income for the first quarter of this year (January to March) reached 166.6 billion won. This is a decrease of 82.9 billion won, or 33.2%, compared to 249.5 billion won in the same period last year.
While non-interest income, including gains related to securities, increased, it was due to a decrease in interest income and an increase in loan loss provisions.
The bank sector's net income totaled 155 billion won, a decrease of 71.4 billion won from the same period last year (Busan Bank 39.6 billion won, Gyeongnam Bank 31.8 billion won). In the non-bank sector, net income fell by 20.4 billion won to 34.3 billion won.
The net income of the capital, investment securities, and asset management sectors decreased by 7 billion won, 8.9 billion won, and 2.8 billion won, respectively, while the net income of savings banks increased by 800 million won compared to last year.
The group's asset soundness indicators show that the ratio of non-performing loans is 1.69%, and the arrears rate is 1.12%, which is an increase of 0.38 percentage points and 0.18 percentage points, respectively, compared to the fourth quarter of last year (October to December), indicating a need for proactive soundness management.
On the other hand, the common equity capital ratio, an indicator of the group's capital adequacy, recorded 12.26%, an increase of 0.26 percentage points compared to the same period last year, due to proper profit realization and active risk-weighted asset management.
A BNK Financial Group official noted, "Through the continuous improvement of the common equity capital ratio, we plan to establish a foundation for preparing for the expansion of credit risk and enhancing shareholder returns in the future."
BNK Financial Group resolved for the first time to pay a quarterly cash dividend of 120 won per share at a board meeting on this day to enhance shareholder value.
Gwon Jae-jung, CFO of BNK Financial Group, stated, "In the future, our company will prioritize the recovery of asset soundness and performance improvement," adding, "At the same time, we will do our best to repay the market's trust through efforts to improve the loan portfolio and enhance productivity."