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Biz News Korea(Eng)

Hana Financial Q3 NP up 77% on yr to four-year high

Collected: 2016.10.22

Distributed: 2016.10.24

Source: Go Direct

South Korea’s Hana Financial Group Inc. performed its best in the last four years during the third quarter and earned more in the nine months than full 2015 as its larger scale following acquisition of Korea Exchange Bank translated into bigger profit.

Hana Financial Group said Friday that it raked in 450.1 billion won ($396.7 million) in net income for the third quarter on a consolidated basis, up 76.6 percent from a year ago. It was the best performance since the first quarter in 2012. Its net profit in the first nine months came to 1.2 trillion won, up 23.6 percent on year, already exceeding the full-year figure of 909.7 billion for fiscal 2015.

The bank’s profit from interests on financial products rose 2 percent on year to 3.5 trillion won thanks to improved loan portfolio.

KEB Hana Bank recorded a net profit of 461.9 billion won for the three months ended September. Hana Capital Co. earned 60.1 billion won, followed by KEB Hana Card Co. 59.3 billion won, Hana Financial Investment Co. 57.9 billion won, Hana Life Insurance Co. 14.5 billion won and Hana Savings Bank 10 billion won.

By Park Joon-hyung

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