Hana Financial Group Sees 20% Surge in Q3 Net Profit on Non-Interest Income.

Seoul: Hana Financial Group Inc. on Tuesday announced a substantial increase in its third-quarter net profit, reporting a figure of 1.16 trillion won (US$839 million), reflecting a 20.4 percent rise from the previous year. This growth is attributed to a notable increase in non-interest income. According to Yonhap News Agency, the earnings surpassed market expectations, with analysts' average net profit estimate pegged at 1.04 trillion won, as per a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. In a regulatory filing, Hana Financial revealed an operating profit of 1.33 trillion won for the quarter, up from 1.19 trillion won a year earlier. However, the company's revenue fell by 39 percent to 10.93 trillion won. Over the first nine months of the year, Hana Financial Group's net profit reached a record 3.23 trillion won, marking an 8.3 percent increase from the same period last year. Meanwhile, Hana Bank, the group's flagship entity, reported a third-quarter net profit of 1. 03 trillion won, up 11.9 percent from the previous year. The bank's third-quarter operating profit experienced a significant climb of 10.6 percent to 1.25 trillion won, though its revenue witnessed a steep decline of 47.5 percent, dropping to 7.44 trillion won.