April 27, 2024

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[THE INVESTOR] State-run Industrial Bank of Korea said on Oct. 27 its third-quarter net profit jumped 59 percent from a year earlier on improved margins and increased interest income.

Net profit for the three months ending Sept. 30 came to 448 billion won (US$396 million) on a consolidated basis, compared with 282.1 billion won a year earlier, the lender said in a regulatory filing.

The figure includes earnings of its non-bank affiliates.

For the January-September period, IBK‘s combined net profit stood at 1.24 trillion won, up 31.4 percent from a year earlier.

The lender, which specializes in supporting small and medium-sized enterprises, saw its outstanding loans to such firms reach 141.7 trillion won as of end of September, up 5.5 percent from December.

By Alex Lee and newswires (alexlee @heraldcorp.com)