Hana Financial's net profit jumps 30.5% in H1

By Paige Shin

Published : July 21, 2017 - 17:17

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Hana Financial Group Inc., a South Korean financial holding company, said Friday its net profit for the first six months of this year jumped 30.5 percent on year, thanks to a decline in loan-loss provisions and robust interest income.

Hana Financial's net profit totaled 1.03 trillion won ($921 million) for the January-June period, compared to 790 billion won for the same period last year.

(Yonhap)

Loan-loss provisions fell 7.8 percent on year to 504.3 billion won, the financial holding company said in a statement.

Interest income rose 5.9 percent on year to 2.4 trillion won and income from commission fees gained 13.9 percent to 985.4 billion won, it said.

The financial holding firm's net interest margin, a key barometer of profitability, stood at 1.92 percent in the second quarter, up 0.06 percentage point from the previous quarter.

Hana Bank, the holding company's flagship bank, posted a net profit of 998.8 billion won for the first-half of this year, up 25 percent on year. (Yonhap)

Hana Financial's net profit jumps 30.5% in H1

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