JB Financial Group said on the 23rd that it posted second-quarter net profit of 219.6 billion won. That was up 5.7% from a year earlier and marked the highest ever for a second quarter.
Capital affiliates appeared to lead the strong results. JB Woori Capital's net profit was 104.1 billion won, more than 42% higher than the same period last year (73.2 billion won).
Among the banking affiliates, fortunes were mixed. Jeonbuk Bank's second-quarter net profit was 54.6 billion won, down about 16% from the same period last year (65.1 billion won). In contrast, Kwangju Bank's second-quarter net profit was 85.6 billion won, growing more than 5% from a year earlier (81.4 billion won).
Cumulative controlling equity net profit for the first half was 385.7 billion won, the highest level ever for a first half.
JB Financial's return on equity (ROE) for the second quarter was 13.0%, up 1.8 percentage points from the previous quarter (11.2%). Return on assets (ROA) was 1.07%, rising 0.13 percentage points from the previous quarter (0.94%).
By contrast, capital ratios declined. The preliminary common equity tier 1 (CET1) ratio was 12.52%, down 0.09 percentage point from the previous quarter (12.61%).
On the day, JB Financial's board resolved to acquire and cancel treasury shares worth 100 billion won. It also approved quarterly dividends of 314 won in cash per common share.
A JB Financial official said, "Major affiliates delivered solid results despite a domestic and external environment marked by significant uncertainty, including global geopolitical risks and interest-rate volatility."