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Finance

Woori Financial posts 603.8 billion won Q1 net profit, down 2.1 percent

Woori Financial Group said on April 24 its first-quarter net profit fell 2.1 percent from a year earlier to 603.8 billion won, citing reduced securities and foreign-exchange related gains amid heightened market volatility linked to Middle East conflict and one-off provisions tied to overseas units. Net operating revenue rose 5.6 percent to 2.76 trillion won, supported by higher interest and non-interest income. Costs increased and asset-quality indicators weakened, while its CET1 ratio improved to a record 13.6 percent.

Finance

NH NongHyup Financial Q1 net profit up 21.7 percent to 868.8 billion won

NH NongHyup Financial Group said on Thursday its first-quarter net profit rose 21.7 percent from a year earlier to 868.8 billion won. By affiliate, NH NongHyup Bank posted 557.7 billion won, NH Investment & Securities 475.7 billion won, and NongHyup Life and General Insurance 67.1 billion won. Net interest income rose 7.3 percent to 2.11 trillion won and non-interest income climbed 51.3 percent to 903.6 billion won.

Finance

Hana Financial Q1 net profit up 7.3 percent to 1.21 trillion won

Hana Financial Group said first-quarter net profit rose 7.3 percent from a year earlier to 1.21 trillion won. It said results exceeded market expectations despite one-off costs including 82.3 billion won in foreign-exchange translation losses, citing a more diversified earnings portfolio, asset growth, cost efficiency and risk management. Core earnings rose 13.6 percent and net interest margin was 1.82 percent. The board approved a 200 billion won share buyback and cancellation and a quarterly cash dividend of 1,145 won per share.