Citibank Korea Achieved Strong Q1 Result
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Citibank Korea reported its strongest quarterly earnings in over six years, with Q1 net income rising 61% year-on-year to 132.8 billion won ($88 million) on revenues of 330.5 billion won, a 23% increase. This growth was driven by a 77% rise in noninterest income. Expenses increased by 1%, while credit costs saw a significant reversal. The return on equity rose to 9.73%. CEO Yoo Myung-soon attributed the success to strategic focus on non-interest revenue despite challenging market conditions.
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