Last year, the Bank of Korea (BOK)'s net income is expected to hit an all-time high. With the won-dollar exchange rate averaging more than 1,420 won, the BOK's foreign-currency securities revenue appears to have increased.
According to the BOK on Jan. 8, as of the end of November last year, the BOK's cumulative net income was about 11.4199 trillion won. This already exceeds the previous record high of 7.8638 trillion won for all of 2021.
The BOK's cumulative net income increased every month last year, and by the end of September (859.84 billion won) it had surpassed the full-year 2024 net income (781.89 billion won). By the end of October (1.05325 trillion won), it had increased by nearly 2 trillion won, and it rose by more than 800 billion won in November as well. At this pace, last year's full-year net income is also expected to be the largest on record.
The BOK's revenue mainly consists of interest and trading gains and losses from asset management, including foreign-currency marketable securities. As the average annual exchange rate came to 1,422 won last year, the BOK's foreign-currency marketable securities revenue increased, boosting net income. In 2024, when the exchange rate was the third highest on record, the BOK's net income was 781.89 billion won, the second largest after 2021.
The balance sheet as of the end of December, the fiscal year-end, is scheduled to be announced next month.