POS Bank achieved significant year-on-year increases in both revenue and operating profit for the second quarter of this year.

According to the preliminary consolidated financial results disclosed by POS Bank on the 10th, Q2 revenue was tallied at KRW 36.611 billion. This represents a 40.99% increase from the same period last year (KRW 25.967 billion) and a 38.06% rise compared to the previous quarter (KRW 26.518 billion).

Profitability metrics also improved significantly. Q2 operating profit stood at KRW 6.32 billion, surging 285.84% compared to the same period last year (KRW 1.638 billion). It also rose 216% from the previous quarter's operating profit of KRW 2 billion.

Profit before income tax from continuing operations reached KRW 6.882 billion, an explosive 1,103.15% increase from the same period last year (KRW 572 million) and a 115.33% increase compared to the previous quarter (KRW 3.196 billion).

Net profit for the period was recorded at KRW 7.541 billion. This represents an increase of 1,451.65% compared to the same period last year (KRW 486 million) and 203.95% compared to the previous quarter (KRW 2.481 billion). Net profit attributable to owners of the parent company was also identically tallied at KRW 7.541 billion.

The company showed a clear growth trend on a cumulative basis for the first half of this year as well. First-half revenue reached KRW 63.129 billion and operating profit was KRW 8.32 billion, representing year-on-year increases of 33.96% and 283.76%, respectively. Cumulative first-half net profit stood at KRW 10.022 billion, up 606.77% from the same period last year.

POS Bank stated that these results are preliminary consolidated operating figures prepared in accordance with the Korean International Financial Reporting Standards (K-IFRS). The company added that the figures are based on internal closing data that has not been reviewed by an external auditor and may be subject to change in the future.