The company said net interest income (TE) was $964 million for Q3 2024, with a net interest margin of 2.17%. Compared with Q3 2023, net interest income (TE) increased $41 million and the net interest margin increased 16 basis points.

1. 01

   The company said net interest income (TE) was $964 million for Q3 2024, with a net interest margin of 2.17%. Compared with Q3 2023, net interest income (TE) increased $41 million and the net interest margin increased 16 basis points.

2. 02

   The company said noninterest income was a net loss of $269 million for Q3 2024 (compared with net income of $643 million for Q3 2023), and cited the $918 million loss on the sale of securities from the strategic repositioning of its available-for-sale securities portfolio as the factor.

3. 03

   The company said it began repositioning its available-for-sale portfolio in Q3 2024, selling about $7.0 billion in market value of lower-yielding mortgage-backed securities and reinvesting the proceeds in higher-yielding investments.

4. 04

   The company said average loans were $106.2 billion for Q3 2024, down $11.4 billion from Q3 2023, and average deposits totaled $147.8 billion, up $2.9 billion.

Key figures

Quarter ended September 30, 2024

Revenue

$695M

Net income

−$410M

EPS

−$0.47

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.