Shinhan Financial Group Q3 net profit up 10.9% on rising interest income
The headquarters of Shinhan Financial Group / Courtesy of Shinhan Financial Group
Shinhan Financial Group said Tuesday its net income rose more than 10 percent in the third quarter from a year earlier driven by a rise in interest income.
The banking group posted a net profit of 1.6 trillion won ($1.2 billion) for the July-September period, up 10.9 percent from a year earlier.
Operating profit for the three-month period stood at 1.9 trillion won, down 2.4 percent from a year ago, while revenue rose 95.9 percent to 18.64 trillion won.
The earnings met market expectations. The average estimate of net profit by analysts stood at 1.61 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Shinhan then said its interest income increased 8.3 percent on-year to 3.2 trillion won in the third quarter but its commission income declined 18.1 percent to 790.2 billion won.
In the first nine months of the year, Shinhan Financial racked up 5.03 trillion won in net profit, up 12.7 percent from a year earlier, outnumbering the group's annual net profit of 4.97 trillion won for 2025.
Its flagship Shinhan Bank logged a net profit of 1.2 trillion won in the third quarter, up 12.5 percent from a year earlier.