Seoul Economic Daily EnglishCodex · 实盘不做把握 5/10
北京时间·🕒 发布 15:42:41时区推断·⟳ 抓取 16:14:07·⚡ 决策 07-28 16:25:21 +11m14s·91.4 天前
BNK金融拟8月注销上半年回购的600亿韩元库存股并维持提高股东回报目标
600亿韩元库存股全额注销和二季度每股150韩元现金分红同比增长25%对股东回报为正面。
📄 原文Seoul Economic Daily English↗ 原文
BNK Financial to Cancel All 60 Billion Won in Treasury Shares Next Month
BNK Financial Group said it will continue to expand its shareholder return plan with the goal of achieving a total shar…
不做 BNK金融集团（138930.KS）
库存股注销利好但业绩与NIM走弱，且同日合并提案被拒拖累，事件净影响混合不追多。
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研究档案
🔎 新鲜度:最早出现 2026-07-28 · 扩散 medium · price-in 风险 medium ↗
关键理由
- 600亿韩元库存股全额注销和二季度每股150韩元现金分红同比增长25%对股东回报为正面。
- 但二季度净利润环比下降5.2%、上半年累计净利润同比下降13.5%，NIM环比下降5bp，基本面并非单向利好。
主要风险
- 股东回报目标属于延续性资本政策，且二季度业绩表现混合，难形成短线正期望追多。
反向证据
- 做多前查反向 · 来源 web · 日期 2026-07-28 · 影响 weakens
同一事件披露净利润环比下降、上半年净利润同比下降、NIM下降和CET1小幅下降，削弱做多。
检索:BNK Financial Q2 2026 net profit NIM CET1 shareholder return risks 原文 ↗
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原文全文
展开原文 · 2,285 字
BNK Financial Group said it will continue to expand its shareholder return plan with the goal of achieving a total shareholder return ratio of 50% next year. The company plans to cancel its entire 60 billion won worth of treasury shares purchased in the first half of this year next month.
BNK Financial said on the 28th that its second-quarter net profit fell 5.2% from the previous quarter to 200.4 billion won. While non-interest income rose, the decline was affected by a one-time cost of 44 billion won incurred from purchasing external stakes in the BNK Financial Tower real estate fund. Cumulative net profit for the first half was 411.8 billion won, down 13.5% from the same period last year.
The group's net interest margin (NIM) was 2.06%, down 5 basis points (1 basis point equals 0.01 percentage point) from the previous quarter. As market interest rates rose, deposit rates increased and the loan-deposit rate spread narrowed. Won-denominated loans at Busan Bank and Kyongnam Bank reached 110 trillion won, up 5.4 trillion won from the end of last year.
The group's non-performing loan (NPL) ratio was 1.46%, an improvement of 11 basis points from the previous quarter. The improvement was driven by a 16.9 billion won reduction in overdue amounts on real estate project financing (PF) loans. Although the recovery in the regional real estate market has been delayed, the company plans to manage its soundness ratio through post-management of distressed assets and expansion of quality assets. The common equity tier 1 (CET1) ratio was 12.14%, down slightly from 12.30% in the first quarter.
The second-quarter cash dividend was 150 won per share, up 25% from the same period last year. The 60 billion won worth of treasury shares purchased in the first half will be canceled in full during August. To meet the high-dividend company criteria for separate taxation of dividend income, the company plans to steadily increase cash dividends and actively conduct treasury share buybacks.
"In line with our corporate value enhancement plan, we aim to achieve a total shareholder return ratio of 50% in 2027 while maintaining a stable CET1 ratio," a BNK Financial official said. "The scale of treasury share purchases in the second half will be decided at the end of September."
BNK Financial said on the 28th that its second-quarter net profit fell 5.2% from the previous quarter to 200.4 billion won. While non-interest income rose, the decline was affected by a one-time cost of 44 billion won incurred from purchasing external stakes in the BNK Financial Tower real estate fund. Cumulative net profit for the first half was 411.8 billion won, down 13.5% from the same period last year.
The group's net interest margin (NIM) was 2.06%, down 5 basis points (1 basis point equals 0.01 percentage point) from the previous quarter. As market interest rates rose, deposit rates increased and the loan-deposit rate spread narrowed. Won-denominated loans at Busan Bank and Kyongnam Bank reached 110 trillion won, up 5.4 trillion won from the end of last year.
The group's non-performing loan (NPL) ratio was 1.46%, an improvement of 11 basis points from the previous quarter. The improvement was driven by a 16.9 billion won reduction in overdue amounts on real estate project financing (PF) loans. Although the recovery in the regional real estate market has been delayed, the company plans to manage its soundness ratio through post-management of distressed assets and expansion of quality assets. The common equity tier 1 (CET1) ratio was 12.14%, down slightly from 12.30% in the first quarter.
The second-quarter cash dividend was 150 won per share, up 25% from the same period last year. The 60 billion won worth of treasury shares purchased in the first half will be canceled in full during August. To meet the high-dividend company criteria for separate taxation of dividend income, the company plans to steadily increase cash dividends and actively conduct treasury share buybacks.
"In line with our corporate value enhancement plan, we aim to achieve a total shareholder return ratio of 50% in 2027 while maintaining a stable CET1 ratio," a BNK Financial official said. "The scale of treasury share purchases in the second half will be decided at the end of September."
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