Seoul:Hana Financial Group Inc. announced a significant rise in its net profit for the third quarter of the year, attributed to increased interest and non-interest income.
According to Yonhap News Agency, the banking group achieved a net profit of 1.22 trillion won (US$919 million) during the July-September period, marking a 7.86 percent increase from the previous year. This figure surpassed market expectations, with analysts predicting an average net profit of 1.21 trillion won based on a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Hana Financial's operating profit for the quarter was reported at 1.63 trillion won, compared to 1.48 trillion won the previous year. The revenue saw a substantial increase of 83.6 percent, reaching 19.99 trillion won.
For the first nine months of the year, the company recorded a net profit of 3.62 trillion won, up 5.56 percent year-on-year, marking it as the highest ever. During the same period, Hana Financial posted an interest income of 7.48 trillion won, a 10.37 percent increase year-on-year, and its commission income rose sharply by 29.8 percent to 2.14 trillion won.
In addition, its flagship entity, Hana Bank, reported a net profit of 1.19 trillion won in the third quarter, reflecting a 5.8 percent increase from the previous year.