Seoul: Hana Financial Group on Friday reported a rise in net profit in the second quarter of the year, driven by an increase in both interest and non-interest incomes. The banking group announced a net profit of 1.19 trillion won (US$823 million) for the April-June period, marking a 1.8 percent increase from the same period last year.
According to Yonhap News Agency, the reported earnings fell short of market expectations, as analysts had projected an average net profit of 1.24 trillion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. Despite this, Hana Financial Group achieved an operating profit of 1.59 trillion won for the quarter, compared to 1.49 trillion won a year ago. Revenue also saw a 13.7 percent rise, reaching 27.25 trillion won.
In the first half of the year, the group's net profit amounted to 2.43 trillion won, representing a 4.4 percent increase from the previous year. However, its flagship, Hana Bank, experienced a decline in net profit for the second quarter, recording 1.32 trillion won, which is a 4.4 percent decrease from the previous year.