Seoul:<Text>
KB Financial Group announced a significant 11.5% increase in its net profit for the first quarter of the year, marking an all-time high. The surge was attributed to growth in both interest and non-interest income streams.
According to Yonhap News Agency, KB Financial Group's net income reached 1.89 trillion won (US$1.27 billion) between January and March, surpassing the previous year's net profit of 1.69 trillion won. This robust performance exceeded market expectations, with analysts previously estimating a net profit of 1.81 trillion won, as per a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.
Interest income experienced a 2.2% year-on-year increase, amounting to 3.33 trillion won, while non-interest income, which includes fees and commissions, rose 27.8% to 1.65 trillion won. Additionally, operating income grew by 19% year-on-year to 2.72 trillion won, and revenue surged 55.5% to 30.69 trillion won during the same period.
KB Kookmin Bank, the flagship unit of KB Financial Group, reported a net profit of 1.1 trillion won in the first quarter, reflecting a 7.3% increase from the previous year.
<P/></Text>