BNK Financial Group disclosed on the 6th that net income under consolidation last year came to 815 billion won. That was up 11.9% (86.5 billion won) from a year earlier.
The banking institutional sector posted net income of 732.1 billion won, up 11.3 billion won from a year earlier (Busan Bank up 28.7 billion won, Kyongnam Bank down 17.4 billion won). The nonbanking institutional sector recorded net income of 188.1 billion won, up 43.3 billion won from a year earlier (capital 16.3 billion won, investment securities 10.8 billion won, savings bank 3.2 billion won, asset management 15.5 billion won).
In the fourth quarter last year, the group's asset soundness indicator, the ratio of substandard or below loans, improved by 0.04 percentage points from the previous quarter to 1.42%, and the arrears rate improved by 0.2 percentage points to 1.14%.
Although soundness indicators are improving each quarter, there was a note that continued soundness management will be required going forward because uncertainty in the domestic and global economy remains high.
The common equity capital ratio, a group capital adequacy indicator, rose 0.06 percentage points from a year earlier to 12.34% on solid earnings and proactive risk-weighted asset (RWA) management.
BNK Financial Group said it plans to lay the groundwork for guarding against expanding credit risk and for increased shareholder returns through continued improvement in the common equity capital ratio.
At the board meeting that day, directors approved a cash dividend with a payout ratio of 28.1% and 735 won per share (a quarterly dividend of 360 won and a year-end dividend of 375 won).
Kang Jong-hun, executive vice president at BNK Financial Group, said, "Our key financial indicators are improving, and execution of the value-up roadmap is gaining traction," adding, "We will continue to buy back and cancel treasury shares when the stock is undervalued and steadily increase the share of cash dividends to meet the requirements for separate taxation of dividend income for high-dividend corporations, doing our utmost to enhance shareholder value."