Hana Financial Reports 15.4% Decline in Q3 Net Profit to 963.4 Billion Won

SEOUL, South Korea - Hana Financial Group Inc. disclosed its financial results for the third quarter of 2021, revealing a decrease in its net profit.

According to a new release by Yonhap News Agency, Hana Financial's net profit for the July-September period was 963.4 billion won (US$711.9 million), marking a 15.4 percent decline compared to the same period a year earlier. The company's operating income for the third quarter fell 19.4 percent on-year to 1.18 trillion won, while sales decreased 42.8 percent to 17.85 trillion won.

Despite the decline, the earnings exceeded market expectations. A survey by Yonhap Infomax, the financial data arm of Yonhap News Agency, indicated that the average estimate of net profit by analysts was 938.6 billion won.

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