Korea Citibank reported a net profit of 183.1 billion won for the first half of this year on the 14th. This represents a 4.5% increase compared to the first half of last year (175.1 billion won).
However, the net profit for the second quarter (April to June) was 100.7 billion won, a decrease of 1.1% compared to the previous year.
Interest revenue for the second quarter was 128.7 billion won, a sharp decline of 37.0% compared to the previous year. This decline is due to a decrease in loan assets caused by the phased withdrawal of consumer finance and the fall in market interest rates, which also resulted in a decrease in net interest margin (NIM). The NIM for the second quarter was 2.36%, down 0.62 percentage points from 2.98% in the same quarter last year. As of the end of June, customer loan assets were tallied at 76 trillion won, a 31.2% decline from the second quarter of last year due to the phased withdrawal of consumer finance.
Non-interest revenue centered on corporate finance, including revenue from foreign exchange, derivatives, and securities, reached 162.3 billion won, an increase of 67.1% compared to the same period last year.
In the second quarter of this year, the return on total assets and the return on equity were recorded at 0.82% and 7.29%, respectively. As of the end of June, the BIS capital adequacy ratio was 35.28%, and the common equity ratio was 34.31%.
Yoo Myung-soon, CEO of Korea Citibank, said, "The non-interest revenue of the corporate finance institutional sector, which we are strategically focusing on, continues to show strong growth," adding, "Profitability and cost efficiency are on the rise."