iM Financial Group (139130.KS) Q1 2026: ₩154.5B Profit Flat as Provisions Surge 26%, Operating Income Slips 7%
Top-line resilience masked a 7.3% decline in operating income in Q1 2026, as credit loss provisions and wage-related costs outpaced the group's strongest net interest margin result in recent quarters.
Source: Q1 2026 Quarterly Report (16th Fiscal Year, 1st Quarter) — Filed May 15, 2026 with DART | Consolidated Financial Statements | Unit: ₩ billions
iM Financial Group posted consolidated net profit attributable to controlling shareholders of ₩154.5 billion in the first quarter of 2026, virtually unchanged from ₩154.3 billion in the same period a year ago. The deceptively stable headline concealed a 7.3% decline in operating income to ₩193.9 billion, as credit loss provisions expanded 26.3% to ₩87.4 billion and general and administrative expenses rose 10.8% to ₩268.3 billion—together erasing the benefit of a genuine improvement in core banking revenue. Net interest income, the group's primary earnings driver, grew 4.6% to ₩421.5 billion as funding costs fell faster than lending yields, a meaningful NIM defense in a late-rate-cut environment. Against this mixed picture, iM Bank—entering its second year since conversion to a commercial bank—added ₩2.88 trillion in loans during the quarter and pushed consolidated total assets past ₩105 trillion for the first time.
