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State-owned Korean bank focused on lending to small and medium-sized enterprises (SMEs).
State-owned Korean bank focused on lending to small and medium-sized enterprises (SMEs).
Earns the spread on loans to small and mid-sized firms, with part of its funding raised through its own bonds as well as deposits. It was founded by law in 1961 to serve smaller companies, and the government is the majority owner.
In one line: A state-backed SME-lending bank, akin to a policy-driven US regional bank..
Moat: narrow (regulatory licence, scale, distribution). Government mandate and majority state ownership give it a policy-driven, protected niche in SME lending.
Headquarters: Seoul, South Korea · Founded: 1961
Size IBK (024110.KS) is a South Korea Financials company (Regional Banks) with a market value of $11.4B, the 37th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩19,490 on 6 Nov 2026.
Performance Over six months the shares fell 13.8%, against +5.5% for the median peer and -24.5% for the South Korea market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 27.8% over the last twelve months (peer median +4.8%); the operating margin is 13.8% (peer median 41.6%).
Valuation It trades at 0.49× book value against a peer median of 1.31× (2nd cheapest of 21).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩25.4T | ₩19.6T | ₩20.7T | ₩20.1T | ₩14.8T |
| Revenue growth | — | -5% | +3% | +36% | — |
| Net income | ₩2.52T | ₩2.54T | ₩2.48T | ₩2.67T | ₩2.67T |
| Free cash flow | n/a | ₩3.59T | ₩5.04T | ₩6.55T | ₩7.14T |
| Capital expenditure | n/a | ₩393B | ₩453B | ₩302B | ₩222B |
| Total debt | n/a | ₩259T | ₩242T | ₩228T | ₩220T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| IBK 024110.KS | $11.4B | -14% | +28% | 8% | 0.49× | 4.2% |
| KBFinancialGroup 105560.KS | $37.5B | -5% | +32% | 10% | 0.99× | 5.6% |
| ShinhanGroup 055550.KS | $29.2B | -13% | +32% | 9% | 0.78× | 5.2% |
| WooriFinancialGroup 316140.KS | $17.0B | -5% | +37% | 10% | 0.71× | 4.8% |
| Hanafinancialgr 086790.KS | $22.5B | -7% | +39% | 10% | 0.79× | 5.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 024110.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.0% | +3.7% | 4th lowest of 21 |
| 6-month return | -13.8% | +5.5% | 2nd lowest of 21 |
| Return on equity | 8.3% | 9.7% | 6th lowest of 21 |
| Price / book | 0.49× | 1.31× | 2nd cheapest of 21 |
| ROE the price implies | 4.2% | 9.3% | 3rd least demanding of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| IBK 024110.KS | South Korea | $11.4B | -14% | +28% | 8% | 0.49× | 4.2% | n/a |
| Chongqing Rural Commercial Bank 3618.HK | Hong Kong | $11.5B | -4% | +4% | 9% | 0.44× | 4.1% | 9.5% |
| Yokohama Financial 7186.T | Japan | $11.1B | +7% | +21% | 8% | 1.21× | 8.1% | 8.0% |
| First Horizon FHN | United States | $10.9B | -6% | -8% | 8% | 1.34× | 9.7% | 8.0% |
| CNPC Capital 000617.SZ | China | $12.3B | -31% | -14% | 5% | 0.76× | 7.9% | 4.6% |
| Chiba Bank 8331.T | Japan | $10.3B | +9% | +31% | 8% | 1.28× | 6.9% | 8.3% |
| Bank of Chengdu 601838.SS | China | $12.8B | +5% | +2% | 15% | 0.92× | 3.1% | 15.1% |
| Wintrust Financial WTFC | United States | $10.2B | 0% | +6% | 13% | 1.49× | 12.2% | 12.9% |
| Chang Hwa Commercial Bank 2801.TW | Taiwan | $10.2B | +34% | +3% | 9% | 1.46× | 4.7% | 9.2% |
| Shizuoka Financial 5831.T | Japan | $10.0B | +6% | +18% | 8% | 1.21× | 10.5% | 8.2% |
| Popular BPOP | United States | $9.83B | +5% | +4% | 17% | 1.58× | 11.1% | 16.6% |
| Taiwan Cooperative Financial Hl 5880.TW | Taiwan | $13.6B | +22% | -3% | 9% | 1.55× | 4.8% | 8.9% |
| Cullen/Frost Bankers CFR | United States | $9.65B | +12% | +2% | 16% | 2.52× | 14.2% | 16.2% |
| SBI Shinsei Bank 8303.T | Japan | $9.20B | -11% | +27% | 10% | 1.15× | 4.7% | 9.9% |
| Banque Cantonale Vaudoise BCVN.SW | Switzerland | $14.4B | +20% | -8% | 12% | 3.07× | n/a | 11.6% |
| Central Bancompany CBC | United States | $9.04B | +38% | +10% | 13% | 2.35× | 10.9% | 12.6% |
| Columbia Banking System COLB | United States | $8.62B | +1% | +22% | 11% | 1.19× | 9.3% | 11.2% |
| Pinnacle Financial Partners PNFP | United States | $15.2B | +3% | +100% | 10% | 1.10× | 10.7% | 9.6% |
| Prosperity Bancshares, Inc.(R) PB | United States | $8.60B | +4% | +19% | 6% | 0.88× | 7.5% | 6.5% |
| Banco Santander-Chile Sponsored ADR BSAC | United States | $15.2B | +7% | +18% | 25% | 3.00× | 17.6% | 24.9% |
| ING Bank Slaski ING.WA | Poland | $15.7B | +20% | +4% | 24% | 3.24× | 33.8% | 23.7% |