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Industrial Bank of Korea's net profit jumps 17 pct in 2018

Finance 16:15 February 11, 2019

SEOUL, Feb. 11 (Yonhap) -- The state-run Industrial Bank of Korea (IBK) said Monday its net profit surged 17.0 percent in 2018 from a year earlier on the back of higher interest income and rising profits from its affiliates.

Net profit stood at 1.76 trillion won (US$1.58 billion) last year, up from 1.58 trillion won a year earlier, the bank said in a regulatory filing.

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

Its operating profit advanced 18.1 percent on-year to 2.39 trillion won, though sales fell 7.5 percent to 17.8 trillion won, according to the lender.

IBK, which specializes in supporting small and medium-sized enterprises, saw its outstanding loans to such firms reach 151.6 trillion won last year, up 6.5 percent from a year earlier.

Industrial Bank of Korea's net profit jumps 17 pct in 2018 - 1

graceoh@yna.co.kr
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