, South Korea
Photo by Daniel Bernard via Unsplash.

Citibank Korea doubles net income in Q1

The net income of KRW84.9b for Jan-March 2023 is 112% higher than a year ago.

Citibank Korea (CKI) doubled its net income in Q1 2023, the bank announced in a press statement.

Net income for the first three months of the year is KRW84.9b, 112% higher year-on-year compared to the KRW40.1b reported for Q1 2022.

Total capital ratio and common equity Tier 1 capital ratio were 27.15% and 26.07%, respectively, as of 31 March 2023.

The higher income was thanks to the Korea franchise’s strong growth in the ICG, CKI’s major business segment. 

“CKI ICG has been providing differentiated financial services by effectively leveraging Citi’s unparalleled global network and utilizing superior product capabilities that enables tailored solutions in response to the varied demands of our institutional clients. As a result, ICG grew revenue more than 70% year over year for the first quarter of 2023.” said Myung-Soon Yoo, CEO of CKI.

Follow the links for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Bank DBS Indonesia avails fast, reliable and sustainable corporate banking
Its ESG-based bank financing, as reflected in sales and asset under management, proves to be an IDR1.8t (US$117m) success.
Italy brings its strong suits to Singapore’s fintech expo
Italian trade executive says 9 firms at the Singapore Fintech Festival 2023 exemplify the diverse range of products and expertise Italy can bring to the table.
Digibank by DBS sets new digital banking standards
Apart from speed and convenience, DBS stays ahead with exceptional personalisation, open banking, and enhanced security.