Korea Citibank said on the 14th that cumulative net income for the first through third quarters this year came to 248.6 billion won. That was down 7.2% from cumulative net income for the third quarter last year (267.8 billion won).
Total revenue on a cumulative basis through the third quarter this year was 806 billion won, down 11% from the same period a year earlier (905.2 billion won). As market interest rates fell and the net interest margin narrowed, interest revenue was 380.5 billion won, down 36% from the same period a year earlier (594.1 billion won). However, non-interest revenue, including foreign exchange, derivatives, and securities revenue, was 425.5 billion won, up 36.8% from the same period a year earlier (311.1 billion won).
Looking only at the third quarter, net income was 65.4 billion won, down 29.4% from the third quarter last year (92.7 billion won). Third-quarter total revenue was 246.6 billion won, down 19.2% from the third quarter last year (305.2 billion won).
As of the end of September, the BIS capital adequacy ratio was 34.40% and the common equity tier 1 ratio was 33.52%, up 0.18 percentage points (P) and 0.32 percentage points (P), respectively, from a year earlier.
Total loans stood at 11.7 trillion won as of the end of September, down 4% from a year earlier. A Korea Citibank official said the figure was affected by the phased closure of the consumer finance business.
The cumulative return on assets and return on equity for the third quarter were 0.66% and 6%, respectively. Each decreased by 0.19 percentage points and 0.03 percentage points, respectively, from a year earlier.
Yum Young-soon, head of Korea Citibank, said there were "situations such as a decline in interest revenue due to falling interest rates and a weakening of market sentiment due to increased domestic and external uncertainty," adding, "In the midst of this, we are focusing on stable risk management, diversifying the revenue structure, and strengthening the foundation for future growth."