Seoul: KB Financial Group on Thursday reported its third-quarter net profit of 1.65 trillion won (US$1.2 billion), marking a 3.3 percent increase from a year earlier. The company’s financial performance for the period was revealed in a regulatory filing, showcasing its ability to surpass market expectations.
According to Yonhap News Agency, the company’s operating profit for the July-September period declined 1.3 percent on-year to 2.33 trillion won, while sales experienced a 3.3 percent decrease, totaling 14.97 trillion won. Despite these declines, the net income results exceeded analysts’ predictions, which averaged at 1.56 trillion won, as per a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.