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[이데일리 이승현 기자] As the state-owned bank, KDB Development Bank, actively supported policy financing for overcoming the Corona 19 crisis last year, total loans showed a double-digit increase.
The Korea Development Bank announced on the 5th that the total loan amount in 2020 was 153 trillion 839.6 billion won, an increase of 11.3% from the previous year (138 trillion 1989 billion won). Total loans include KRW loans, foreign currency loans, payment guarantee payments, and new home loans.
This is the largest loan growth rate since the launch of the’Integrated Industrial Bank’, which was merged with Korea Development Bank and Policy Finance Corporation in January 2015. KDB’s loans remained at a certain level, including △133.3 trillion won in 2015 △132 trillion won in 2016 △130 trillion 2891 billion won in 2017 and 131 trillion332.8 billion won in 2018. Then, in 2019, it increased by about 5% compared to the previous year to 138 trillion 1989 billion won, and last year the rate of increase was double digits.
An official from the Korea Development Bank explained that “the expansion of policy financing support related to Corona 19 is the main factor in the increase in loans.”
By industry, loan support in the manufacturing sector was the largest at 77 trillion 2187 billion won. It was followed by financial and insurance (20,903.6 billion won) and transportation and warehousing (12,959 billion won) support.
By collateral, credit loans accounted for about 59%. The proportion of real estate mortgage loans is about 38%. By company, the ratio of SME loans was calculated at 26.17%.
In the aftermath of the huge increase in Corona 19 loan support, provisions were also largely accumulated. The provision for bad debts last year was 3,856 billion won, an increase of about 15.9% from the previous year (3,3257 billion won).
Last year’s net income was 487.5 billion won, a 9% increase from the previous year (445.7 billion won). The Korea Development Bank has generated a net profit of 400 billion won every year since 2017. However, in 2018, the net profit reached an exceptional 2,509.8 billion won. This is the effect of a reversal of about 2 trillion won in the portion that was previously recognized as an expense related to equity damage in the course of the Daewoo Shipbuilding & Marine Engineering restructuring process.
The dividend payout ratio (the ratio of dividends to net income) has increased significantly from 25.12% in 2019 to 43.0% in 2020. The KDB is 100% owned by the government. It is much higher than IBK IBK’s dividend payout ratio of 29.5%.
Financial authorities recommended that major financial holdings limit their dividend payout ratio to within 20% for reasons such as securing financial resources to support Corona 19 this year. State-owned banks such as KDB, Kieun, and Export-Import Bank were excluded from the recommendation to limit dividends.
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