SEOUL-- Overseas branches of South Korean banks saw their combined net profit jump 48.7 percent on-year to US$461.2 million in the first half of the year, thanks to a decline in loan-loss provisions, government data showed Wednesday.

The combined interest income at 184 overseas branches gained 13.7 percent on-year to $759.2 billion, while non-interest income fell 0.2 percent on-year to $268.4 million, according to the data by the Financial Supervisory Service.

Their average non-performing loan ratio stood at 0.9 percent as of the end of June, compared with an average ratio of 1.25 percent for banks operating in South Korea.

At the end of June, the total assets of overseas branches stood at $101.2 billion, up 5.6 percent from six months earlier.

The FSS attributed the growth to "rises in loans, interbank loans and securities."

Source: Yonhap News Agency