iM Financial Group announced on the 28th that its net income for the first half of this year reached 309.3 billion won, representing a 106.2% increase compared to the same period last year.
The net income of iM Bank (formerly Daegu Bank), its key subsidiary, for the first half of this year was 257.4 billion won, an increase of 22% compared to the same period last year. iM Financial Group explained that it defended against a decline in net interest margin with a loan strategy centered on high-quality loans, and its performance significantly improved due to strong non-interest income and stabilization of credit loss expenses.
During the same period, iM Securities recorded a net income of 54.1 billion won. iM Securities had posted losses for five consecutive quarters until last year, but achieved consecutive profits of 27.4 billion won in the first quarter and 26.7 billion won in the second quarter of this year, demonstrating stable growth. Additionally, iM Capital recorded a net income of 29.7 billion won, while iM Life reported 13.8 billion won in net income.
On the same day, iM Financial decided to repurchase an additional 20 billion won of its own shares for retirement. iM Financial had previously announced plans to repurchase and retire 150 billion won worth of its own shares by 2027.