On the 24th, JB Financial Group announced that it achieved a net profit of 370.4 billion won in the first half of this year. This is similar to the net profit of 370.1 billion won in the first half of last year. The net profit in the second quarter was 207.7 billion won, marking a 5.5% increase compared to the same period last year.
The profitability indicators, return on equity (ROE) and return on assets (ROA), remained at high levels of 13.1% and 1.11%, respectively. The common equity tier 1 (CET1) ratio recorded a 0.13 percentage point improvement to 12.41% compared to the previous quarter.
On this day, the board of directors of JB Financial decided to distribute cash dividends of 160 won per share and to conduct a stock buyback and cancellation worth 30 billion won as part of its shareholder value enhancement and shareholder return policy. JB Financial noted, "We plan to conduct additional share buybacks and cancellations to achieve the shareholder return level announced at the beginning of the year in the second half as well."
By subsidiary, Jeonbuk Bank recorded a net profit of 116.6 billion won, while Kwangju Bank achieved 148.4 billion won in net profit in the first half. JB Woori Capital earned 131.7 billion won, and JB Asset Management and JB Investment reported net profits of 5.2 billion won and 4.6 billion won, respectively. The net profit of its overseas subsidiary, Cambodia Phnom Penh Commercial Bank (PPCBank), was 25 billion won, up 50.4% compared to the same period last year.