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Net income stood at 425.9 billion won (US$305.1 million) last year, compared with 468.1 billion won a year earlier, Citibank Korea said in a statement. Revenue, however, expanded 19 per cent to 1.96 trillion won.
Citibank Korea said it set aside 402.5 billion won in loan-loss provisions last year as an economic slowdown hurt local debtors' ability to repay borrowings.
As of December, the lender's ratio of nonperforming loans to total lending stood at 1.24 per cent and total assets reached 62.8 trillion won.
Citibank Korea said its capital adequacy ratio, a key measure of financial health, was 12.71 per cent as of December, up 3.31 percentage points from three months earlier.
(Yonhap)
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