Industrial Bank of Korea (KRX:024110)

Industrial Bank of Korea Income Statement

Financials in millions KRW. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	18,954,900	15,814,615	10,986,528	7,692,531	7,590,909
Interest Income on Investments	-	2,662,925	1,697,627	1,064,014	1,129,505
Total Interest Income	18,954,900	18,477,540	12,684,155	8,756,545	8,720,414
Interest Paid on Deposits	11,063,000	2,227,591	1,005,321	534,603	641,056
Interest Paid on Borrowings	-	8,209,900	4,153,484	2,026,439	2,397,687
Total Interest Expense	11,063,000	10,437,491	5,158,805	2,561,042	3,038,743
Net Interest Income	7,891,900	8,040,049	7,525,350	6,195,503	5,681,671
Net Interest Income Growth (YoY)	-1.84%	6.84%	21.46%	9.04%	-2.18%
Income From Trading Activities	-	-6,754,899	-11,637,139	-5,791,592	-7,253,903
Gain (Loss) on Sale of Assets	-	-4,750	-14,647	-3,849	1,437
Gain (Loss) on Sale of Investments	132,200	1,003,724	288,729	595,417	596,216
Gain (Loss) on Sale of Equity Investments	-	141,463	96,585	112,427	60,329
Other Non-Interest Income	1,171,100	8,260,914	13,378,278	7,413,980	8,632,321
Total Non-Interest Income	1,303,300	2,895,378	2,350,994	2,589,388	2,264,336
Non-Interest Income Growth (YoY)	-54.99%	23.16%	-9.21%	14.36%	12.49%
Revenues Before Loan Losses	9,195,200	10,935,427	9,876,344	8,784,891	7,946,007
Provision for Loan Losses	1,695,100	2,076,147	1,485,508	940,428	1,528,738
Revenue	7,500,100	8,859,280	8,390,836	7,844,463	6,417,269
Revenue Growth (YoY)	-15.34%	5.58%	6.97%	22.24%	1.95%
Salaries and Employee Benefits	-	1,559,081	1,577,968	1,650,932	1,485,356
Occupancy Expenses	-	239,562	225,092	218,015	228,850
Amortization of Goodwill & Intangibles	-	67,245	62,166	63,349	63,342
Selling, General & Administrative	2,812,100	628,798	584,602	530,500	520,388
Other Non-Interest Expense	1,067,900	2,706,767	2,175,473	1,955,290	1,881,985
Total Non-Interest Expense	3,906,600	5,361,178	4,758,361	4,518,043	4,316,188
EBT Excluding Unusual Items	3,593,500	3,498,102	3,632,475	3,326,420	2,101,081
Asset Writedown	-	-5,065	-28,270	-8,511	-14,170
Pretax Income	3,593,500	3,493,037	3,604,205	3,317,909	2,086,911
Income Tax Expense	919,700	817,849	929,475	891,968	538,993
Earnings From Continuing Operations	2,673,800	2,675,188	2,674,730	2,425,941	1,547,918
Minority Interest in Earnings	-9,800	-5,503	-7,034	-13,482	-12,213
Net Income	2,664,000	2,669,685	2,667,696	2,412,459	1,535,705
Preferred Dividends & Other Adjustments	-	296,230	295,412	276,279	214,981
Net Income to Common	2,664,000	2,373,455	2,372,284	2,136,180	1,320,724
Net Income Growth	-0.21%	0.07%	10.58%	57.09%	-4.37%
Basic Shares Outstanding	797	797	746	742	668
Diluted Shares Outstanding	797	797	746	742	668
Shares Change (YoY)	-0.00%	6.89%	0.48%	11.15%	16.58%
EPS (Basic)	3340.75	2976.40	3179.81	2877.21	1977.20
EPS (Diluted)	3340.75	2976.40	3179.81	2877.00	1977.00
EPS Growth	12.24%	-6.40%	10.53%	45.52%	-11.82%
Dividend Per Share	-	984.000	960.000	780.000	471.000
Dividend Growth	-	2.50%	23.08%	65.61%	-29.70%
Effective Tax Rate	25.59%	23.41%	25.79%	26.88%	25.83%

Source: S&P Capital IQ. Banks template. Financial Sources.