Hana Financial Group Q2 net profit up 11.7% to $750.2 mil.
The headquarters of Hana Financial Group in Jung District, Seoul / Newsis
Hana Financial Group on Friday reported its second-quarter net profit of 1.04 trillion won ($750.2 million), up 11.7 percent from a year earlier.
The company said in a regulatory filing that it posted 1.35 trillion won in operating profit for the quarter, compared with 1.33 trillion won a year ago. Revenue rose 29.8 percent to 19.71 trillion won.
The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 980.6 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
For the first six months of the year, the group's net profit came to 2.09 trillion won, up 2 percent from the same period last year.
The financial holding firm said its interest income reached 4.38 trillion won in the January-June period, down 0.6 percent on-year. Its noninterest income slipped 7.4 percent on-year to 1.27 trillion won over the cited period.
The flagship Hana Bank posted a net profit of 911 billion won in the second quarter, up 4.67 percent from a year earlier.
Its Q2 operating profit inched up 0.5 percent to 1.21 trillion won over the cited period, while revenue jumped 31.3 percent to 15.4 trillion won.
For the January-June period, the bank's net profit came to 1.76 trillion won, down 4.75 percent from the same period last year. (Yonhap)