Seoul:The Industrial Bank of Korea (IBK) announced on Monday a third-quarter net profit of 771.2 billion won (US$582.9 million), representing a 2.7 percent increase from the same period last year.
According to Yonhap News Agency, IBK’s operating income for the July-September period rose by 5.6 percent to reach 1.03 trillion won. The state policy lender also reported a significant 78.9 percent surge in sales, totaling 10.47 trillion won.
The bank's earnings aligned closely with market expectations, as analysts had predicted an average net profit of 774.3 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.