1 week Ago By Lee Jun-sung
On September 24, JB Financial Group announced its 'Corporate Value Enhancement Plan,' focusing on improving the group's profitability and increasing shareholder returns. JB Financial Group has set long-term goals to enhance the group's corporate value, including a return on equity (ROE) of 15%, a shareholder return rate of 50%, and a target of repurchasing and retiring 40% of the total shareholder return amount in treasury shares. They also presented a three-year implementation plan to enhance corporate value by 2026.
This includes maintaining an ROE of at least 13% based on a stable Common Equity Tier 1 (CET1) ratio, with the shareholder return rate gradually increasing each year to reach 45% by 2026. Shareholder returns exceeding a 28% payout ratio will be pursued through the repurchase and retirement of treasury shares. JB Financial Group plans to continue this corporate value enhancement strategy until they achieve a price-to-book ratio (PBR) of one.
Starting from the first quarter, JB Financial Group introduced quarterly dividends, a first among regional financial groups. In 2023, they maintained a CET1 of over 12%, enabling them to conduct stock repurchases and retirements. Moreover, JB Financial Group is set to host 'JBFG's Capital Markets Day' on September 30 to enhance communication with investors and facilitate understanding of the corporate value enhancement plan.
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