Industrial Bank of Korea (IBK) posted a consolidated net profit of 753.4 billion won in the first quarter of this year. That was down 7.5% from the same period a year earlier.
On the 24th, Industrial Bank of Korea (IBK) announced the results, saying it was seen as the result of the base effect from last year's record-high first-quarter performance and the exchange-rate variables stemming from Iran. In the first quarter of last year, Industrial Bank of Korea (IBK)'s net profit on a consolidation basis was 814.2 billion won, up by nearly 40% from a year earlier.
The outstanding loan balance for small and midsize enterprises was 264.2 trillion won, up 0.9% from the end of last year, keeping a 24.4% share of the SME market. During the same period, the ratio of substandard-and-below loans held at 1.28%, and the credit loss ratio edged down to 0.43%.
An Industrial Bank of Korea (IBK) official said the bank will continue to support small and midsize enterprises facing difficulties from rising exchange rates and oil prices through the IBK-style Productive Finance 30-300 Project, adding, As disclosed in March, we plan to introduce our first quarterly dividends, setting July 31 as the record date.