Financial Holding Companies and IBK Projected to Post 8.3 Trillion Won in Q2 Net Profit, Up 2.7% YoY

[Economy 365]

The combined net profit of nine domestic financial holding companies and the Industrial Bank of Korea (IBK) for the second quarter of this year is projected to reach 8.3307 trillion won, a 2.7% increase compared to the same period last year.

The cumulative net profit for the first half of the year is also expected to rise by 7.4% to 16.6639 trillion won, marking the highest first-half performance since 2019.

In particular, the combined first-half net profit of the four major financial holding companies is forecast to reach 11.018 trillion won, setting a new record for a half-year period.

Their second-quarter net profit is also expected to increase by 2.1% year-on-year to 5.5661 trillion won.

Analysts attribute these strong results to improved net interest margins driven by rising market interest rates, increased interest income from loan growth, and improved performance in brokerage, investment banking (IB), and other sectors within securities subsidiaries.

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