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Industrial Bank of Korea's net profit jumps 29.5 pct in 2017

2018/02/09 15:57

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SEOUL, Feb. 9 (Yonhap) -- State-run Industrial Bank of Korea (IBK) said Friday that its net profit rose a sharp 29.5 percent in 2017 from a year ago on higher interest income and commission fees.

Net profit stood at 1.5 trillion won (US$1.37 billion) in 2017, compared with 1.16 trillion won a year earlier, the bank said in a statement.

The figure includes earnings of its two non-bank affiliates.

The bank's net interest margin, a key barometer of profitability, rose 0.03 percentage point to 1.94 percent last year.

IBK, which specializes in supporting small and medium-sized enterprises, saw its outstanding loans to such firms reach 142.4 trillion won last year, up 5.9 percent from a year earlier.