JB Financial Group toasts 10th anniversary landmark

JB Financial Group celebrated its 10th anniversary at an event held in Muju County, North Jeolla, the financial firm announced Tuesday. It launched in 2013 with two affiliates and grew to become a financial operation running 10 financial firms.

JB Financial Group Chairman and CEO Kim Ki-hong delivers a congratulatory speech during the company's 10th anniversary celebration event held in Muju County, North Jeolla, on Saturday. [JB FINANCIAL GROUP]

JB Financial Group celebrated its 10th anniversary at an event held in Muju County, North Jeolla, the financial firm announced Tuesday.

JB Financial Group Chairman and CEO Kim Ki-hong, Jeonbuk Bank CEO Baek Jong-il and Kwangju Bank CEO Ko Byung-il were among the 3,500 employees who attended the event held on Saturday.

Kim reemphasized the firm’s catchphrase “small yet strong financial group,” which he has been campaigning for since he took office in 2019, in his congratulatory remarks at the ceremony.

“Economic conditions here and abroad are volatile, but the company will continue its growth based on stringent risk management to render stable growth and profitability,” he said.

Kim highlighted four goals moving forward: improving quality-based profitability, enhancing digital competitiveness, securing future growth engines by diversifying the business portfolio, and promoting transparent management and a culture of mutual respect.

JB Financial Group launched in 2013 with two affiliates and grew to become an international financial operation running 10 financial firms. Its overseas subsidiaries are located in Cambodia, Myanmar and Vietnam.

The financial company’s total assets in the first quarter this year were worth more than 60 trillion won ($46.1 billion), more than tripling the 16.2-trillion-won worth of assets in 2013. The net income last year stood at an all-time high of 601 billion won, 22.2 times greater than in 2019.

The total shareholder return rate climbed steadily to reach 27 percent last year, up 12.5 percentage points from return rates in 2018.

BY SOHN DONG-JOO [sohn.dongjoo@joongang.co.kr]