JB Financial Group (175330) Q4 2025 earnings summary

Executive summary

• Achieved record-high net income of KRW710bn in 2025, up 4.9% year-over-year, surpassing guidance by 0.8%.

• EPS rose 16.6% year-over-year, with a four-year CAGR of 9.4%.

• ROE and ROA maintained at sector-leading levels of 12.4% and 1.04%, respectively.

• Targeting net income of KRW750bn in 2026, a 5.6% increase year-over-year.

Financial highlights

• Total operating income increased 5.6% year-over-year to KRW2,339.5bn.

• Interest income grew 3.5% year-over-year; non-interest income surged 23.3% year-over-year, driven by a 74.8% increase in securities-related earnings.

• Group's cost-income ratio rose to 38.8%, up 1.3 percentage points year-over-year, mainly due to changes in wage scope.

• Credit cost ratio improved to 0.87%, down 6bp year-over-year.

• Group CET1 ratio reached 12.58%, up 37bp year-over-year.

Outlook and guidance

• 2026 net income guidance set at KRW750bn, up 5.6% year-over-year.

• Group's won-denominated loan growth guidance for 2026 is 7.8% year-over-year.

• 2026 cost-income ratio expected at 38.3%; credit cost ratio at 0.86%.