Industrial Bank of Korea (LUX: IBKOR)

Industrial Bank of Korea Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	16,156,560	15,814,615	10,986,528	7,692,531	7,590,909	8,271,335
Interest Income on Investments	2,997,488	2,662,925	1,697,627	1,064,014	1,129,505	1,273,720
Total Interest Income	19,154,048	18,477,540	12,684,155	8,756,545	8,720,414	9,545,055
Interest Paid on Deposits	2,212,518	2,227,591	1,005,321	534,603	641,056	851,338
Interest Paid on Borrowings	8,890,273	8,209,900	4,153,484	2,026,439	2,397,687	2,885,201
Total Interest Expense	11,102,791	10,437,491	5,158,805	2,561,042	3,038,743	3,736,539
Net Interest Income	8,051,257	8,040,049	7,525,350	6,195,503	5,681,671	5,808,516
Net Interest Income Growth (YoY)	-0.79%	6.84%	21.46%	9.04%	-2.18%	1.21%
Income From Trading Activities	-6,211,083	-6,754,899	-11,637,139	-5,791,592	-7,253,903	-4,950,851
Gain (Loss) on Sale of Assets	-18,989	-4,750	-14,647	-3,849	1,437	-5,554
Gain (Loss) on Sale of Investments	1,067,571	1,003,724	288,729	595,417	596,216	371,274
Gain (Loss) on Sale of Equity Investments	83,450	141,463	96,585	112,427	60,329	36,025
Other Non-Interest Income	7,647,704	8,260,914	13,378,278	7,413,980	8,632,321	6,324,581
Total Non-Interest Income	2,829,873	2,895,378	2,350,994	2,589,388	2,264,336	2,012,835
Non-Interest Income Growth (YoY)	8.75%	23.16%	-9.21%	14.36%	12.49%	-5.44%
Revenues Before Loan Losses	10,881,130	10,935,427	9,876,344	8,784,891	7,946,007	7,821,351
Provision for Loan Losses	2,076,147	2,076,147	1,485,508	940,428	1,528,738	1,526,666
Revenue	8,804,983	8,859,280	8,390,836	7,844,463	6,417,269	6,294,685
Revenue Growth (YoY)	-4.63%	5.58%	6.97%	22.24%	1.95%	-0.92%
Salaries and Employee Benefits	1,612,375	1,559,081	1,577,968	1,650,932	1,485,356	1,380,201
Occupancy Expenses	249,019	239,562	225,092	218,015	228,850	210,753
Amortization of Goodwill & Intangibles	68,843	67,245	62,166	63,349	63,342	77,873
Selling, General & Administrative	617,206	628,798	584,602	530,500	520,388	604,591
Other Non-Interest Expense	2,405,677	2,706,767	2,175,473	1,955,290	1,881,985	1,705,979
Total Non-Interest Expense	5,196,306	5,361,178	4,758,361	4,518,043	4,316,188	4,046,654
EBT Excluding Unusual Items	3,608,677	3,498,102	3,632,475	3,326,420	2,101,081	2,248,031
Asset Writedown	-5,065	-5,065	-28,270	-8,511	-14,170	-7,794
Pretax Income	3,603,612	3,493,037	3,604,205	3,317,909	2,086,911	2,240,237
Income Tax Expense	852,654	817,849	929,475	891,968	538,993	625,976
Earnings From Continuing Operations	2,750,958	2,675,188	2,674,730	2,425,941	1,547,918	1,614,261
Minority Interest in Earnings	-3,620	-5,503	-7,034	-13,482	-12,213	-8,414
Net Income	2,747,338	2,669,685	2,667,696	2,412,459	1,535,705	1,605,847
Preferred Dividends & Other Adjustments	312,268	296,230	295,412	276,279	214,981	321,010
Net Income to Common	2,435,070	2,373,455	2,372,284	2,136,180	1,320,724	1,284,837
Net Income Growth	-4.01%	0.07%	10.58%	57.09%	-4.37%	-8.46%
Basic Shares Outstanding	797	797	746	742	668	573
Diluted Shares Outstanding	797	797	746	742	668	573
Shares Change (YoY)	1.47%	6.89%	0.48%	11.15%	16.58%	2.32%
EPS (Basic)	3053.66	2976.40	3179.81	2877.21	1977.20	2242.31
EPS (Diluted)	3053.66	2976.40	3179.81	2877.00	1977.00	2242.00
EPS Growth	-10.12%	-6.40%	10.53%	45.52%	-11.82%	-11.41%
Dividend Per Share	984.000	984.000	960.000	780.000	471.000	670.000
Dividend Growth	2.50%	2.50%	23.08%	65.61%	-29.70%	-2.90%
Effective Tax Rate	23.66%	23.41%	25.79%	26.88%	25.83%	27.94%

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