SEOUL, Feb. 11 (Yonhap) -- The state-run Industrial Bank of Korea (IBK) said Monday its net profit surged 17.0 percent in 2018 from a year earlier on the back of higher interest income and rising profits from its affiliates.
Net profit stood at 1.76 trillion won (US$1.58 billion) last year, up from 1.58 trillion won a year earlier, the bank said in a regulatory filing.
The figure includes earnings from its two non-bank affiliates.
Its operating profit advanced 18.1 percent on-year to 2.39 trillion won, though sales fell 7.5 percent to 17.8 trillion won, according to the lender.
IBK, which specializes in supporting small and medium-sized enterprises, saw its outstanding loans to such firms reach 151.6 trillion won last year, up 6.5 percent from a year earlier.