Korean banks' Q1 net income marginally up amid depressed capital markets
이 글자크기로 변경됩니다.
(예시) 가장 빠른 뉴스가 있고 다양한 정보, 쌍방향 소통이 숨쉬는 다음뉴스를 만나보세요. 다음뉴스는 국내외 주요이슈와 실시간 속보, 문화생활 및 다양한 분야의 뉴스를 입체적으로 전달하고 있습니다.
Korean lenders generated 5.6 trillion won ($4.4 billion) in net income from January to March this year, up 0.7 percent from a year ago, according to the Financial Supervisory Service (FSS) on Wednesday.
Their interest income, generated from interest-bearing assets like commercial loans and mortgages, jumped 16.9 percent on year to 12.6 trillion won on rising interest rates. This contributed to net income margin to add 0.09 percentage point versus a year ago. Net income margin is a key profitability measurement of comparing the difference between banks’ interest income and interest paid out to their lenders against the amount of their interest-bearing assets.
The difference between lending and deposit rates came to 1.93 percent in the first quarter, rising 0.15 percentage point from a year ago.
Non-interest income, earned primarily from fees, like transaction fees and account service charges, plunged 49.4 percent on year to 1.3 trillion won. The fall was mainly owed to sluggish securities market.
Selling, general and administrative expenses rose 6.4 percent on year to 6.1 trillion won. Bad debt expense jumped 41.2 percent on year to 800 billion won.
Excluding special purpose banks, net income of general lenders increased 27.4 percent on year to 3.6 trillion won. Commercial lenders saw net income grow 27.5 percent on year to 3.2 trillion won. Regional banks’ net income gained 32.4 percent on year to 400 billion won. Internet-only lenders earned 30 billion won in net income, down 23.4 percent on year.
FSS advised stronger monitoring and capital adequacy management in the face of growing uncertainties in the local and global economy.
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
Copyright © 매일경제 & mk.co.kr. 무단 전재, 재배포 및 AI학습 이용 금지
- AminoLab completes slaughter blood upcycling plant in Korea - Pulse by Maeil Business News Korea
- Korea’s new president mentions stagflation as govt forms emergency taskforce - Pulse by Maeil Business News Korea
- Naver fastens delivery through partnership with CJ Logistics - Pulse by Maeil Business News Korea
- Yanolja recruits ex-Google software engineering director - Pulse by Maeil Business News Korea
- League of Legends Mid-Season Invitational kicks off in Busan, Korea - Pulse by Maeil Business News Korea
- 강경준, 상간남 피소…사랑꾼 이미지 타격 [MK픽] - 스타투데이
- 내수 시장 뒤덮은 R의 그림자 [R의 그림자]
- 은퇴 암시했던 보아, 팬들과 소통 재개… ‘데뷔 24주년 점핑이들과 함께’ - MK스포츠
- 이찬원, 이태원 참사에 "노래 못해요" 했다가 봉변 당했다 - 스타투데이
- 양희은·양희경 자매, 오늘(4일) 모친상 - 스타투데이