NH Agricultural Cooperative Financial Group announced on the 11th that its annual net profit for last year reached a record 2.5112 trillion won, marking a 2.3% increase compared to the previous year. Although the interest income saw a decrease of 1.0% to 8.4112 trillion won, non-interest income surged by 26.4% to 2.274 trillion won. This significant growth was largely driven by a 15.2% increase in commission income and a 25.7% increase in profits from securities and foreign exchange derivatives.

Breaking down the results by subsidiaries, NH Nonghyup Bank reported a net profit of 1.814 trillion won, reflecting a marginal increase of 0.4%. In contrast, NH Investment & Securities experienced a remarkable growth of 50.2%, achieving a net profit of 1.0316 trillion won, the first time its annual net profit exceeded 1 trillion won. On the other hand, NH Nonghyup Life Insurance and NH Nonghyup Property & Casualty Insurance recorded significant declines in their profits, down 12.4% and 20.5%, respectively.

The financial group explained that the decline in interest income was due to a decrease in the net interest margin (NIM) from the restructuring of its portfolio to focus on high-quality assets in a falling interest rate environment. However, the soaring non-interest income from operations in securities management, advisory fees, and commission brokerage significantly contributed to the overall financial performance, indicating a positive trajectory in the group's diversification strategy.