Savings banks swung to a 417.3 billion won profit last year from a 423.2 billion won loss in 2024. Although interest income was 5.4156 trillion won, down 42.7 billion won from a year earlier, loan-loss expenses fell to 3.2645 trillion won, down 455.1 billion won on-year, as nonperforming loans shrank.
According to the Financial Supervisory Service on the 20th, the savings banks' arrears rate was 6.04% last year, down 2.48 percentage points from 8.52% a year earlier. The household loans arrears rate rose 0.14 percentage points to 4.67%, while the corporations loans arrears rate fell 4.81 percentage points to 8%. The ratio of substandard-or-below loans, which indicates the share of nonperforming loans, was 8.43%, down 2.25 percentage points from 10.68% a year earlier. The capital adequacy ratio inched up to 15.85% from 14.98% at the end of the previous year.
Total assets were 118 trillion won, down 2.9 trillion won from 120.9 trillion won a year earlier. As troubled project financing (PF; Project Financing) loans were wound down, loan assets fell by 4.4 trillion won over the same period.
Deposits were 99 trillion won, down 3.2 trillion won from 102.2 trillion won at the end of the previous year. Equity capital was 15.2 trillion won, up 700 billion won from 14.5 trillion won at the end of the previous year.
Mutual finance institutions posted a net profit of 886.1 billion won last year, down 162.9 billion won from 1.049 trillion won a year earlier. Net profit in the financial institutional sector was 4.2473 trillion won, down 475.8 billion won from 4.7231 trillion won a year earlier.
Total assets were 790 trillion won, up 32.4 trillion won from 757.6 trillion won at the end of the previous year. Total loans were 540.2 trillion won, up 18.1 trillion won from 522.1 trillion won at the end of the previous year, and total deposits were 675.6 trillion won, up 29 trillion won from 646.6 trillion won at the end of the previous year.
Last year's arrears rate was 4.62%, edging up from 4.54% a year earlier. The household loans arrears rate rose 0.02 percentage points to 1.93%, and the corporations loans arrears rate rose 0.08 percentage points to 6.83%. The ratio of substandard-or-below loans was 5.55%, up 0.29 percentage points from 5.26% at the end of the previous year. The net capital ratio was 7.95%, down 0.18 percentage points from 8.13% a year earlier.