Financial Holding Companies Post Record Net Profit Again... 17.6 Trillion Won in H1

[Economy 365]

Financial holding companies have posted record-high earnings once again in the first half of this year.

According to the Financial Supervisory Service, the consolidated net profit of 10 financial holding companies reached 17.6 trillion won, up 2.2 trillion won, or 13.7%, from a year earlier.

This growth was driven by an increase in fee income and gains on securities fueled by a buoyant stock market, as well as higher foreign exchange gains amid increased volatility in exchange rates and interest rates.

By sector, net profit for the financial investment sector surged 72.8% year-on-year, while the banking sector saw a 7.9% decrease.

Total assets stood at 4,391 trillion won at the end of June, an increase of 323.6 trillion won in just six months.

However, the ratio of non-performing loans rose to 1.03%, and the loan-loss reserve ratio dropped by 10.3 percentage points to 96.5%.

*This article was produced with AI audio.
※ Please note: This article was translated by AI and may contain errors.