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Finance
South Korean banks\' Q1 net profit falls 3.9 percent on securities losses
South Korean banks\' net profit in the first quarter slipped 3.9 percent from a year earlier to 6.7 trillion won, hit by a fall in non-interest income as valuation losses on securities widened amid rising market rates. Interest income rose 6.4 percent to 15.8 trillion won on loan growth and a higher net interest margin. Return on assets and return on equity both declined from a year earlier.
Finance
Regional financial holdings post mixed Q1 net profit results despite asset growth
BNK, JB and iM financial holding groups posted asset growth in the first quarter, but their profit structures diverged. Combined net profit rose 9.9 percent from a year earlier to 532 billion won. BNK’s profit jumped 26.9 percent, while JB and iM were little changed. Differences emerged in non-interest income, expenses and asset quality indicators. All three saw capital units strengthen their role in earnings and expanded shareholder return policies.
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.
