Seoul: IBK on Monday reported its second-quarter net income of 689.5 billion won (US$469.7 million), marking a 0.7 percent decrease from the same period last year. The banking firm disclosed these figures in a regulatory filing, noting that despite the decline, the earnings surpassed market expectations.
According to Yonhap News Agency, IBK's operating profit for the quarter was 915.1 billion won, which is a slight drop from the 927.4 billion won recorded last year. Meanwhile, the company's revenue saw a decline of 5.7 percent, totaling 9.66 trillion won.
The reported net profit exceeded analyst predictions, which had an average estimate of 671 billion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.