Hana Financial Q3 net up 7.9% on rise in interest, non-interest income

Hana Financial Group Inc. announced a notable increase in net profit for the third quarter of the year, attributed to a surge in interest and non-interest income. The banking group reported a net profit of 1.22 trillion won ($919 million) for the July-September period, marking a 7.86% rise compared to the same period last year. Analysts had estimated Hana Financial's net profit at 1.21 trillion won, according to a survey conducted by Yonhap Infomax, the financial data unit of Yonhap News Agency.

Operating profit for the quarter reached 1.63 trillion won, up from 1.48 trillion won in the previous year. Revenue for the quarter surged by 83.6% to 19.99 trillion won. In the first nine months of the year, Hana Financial generated a net profit of 3.62 trillion won, reflecting a 5.56% increase year-over-year, and marking the highest profit ever recorded.

Interest income for the January-September period amounted to 7.48 trillion won, a 10.37% increase compared to the same period last year. Commission income surged 29.8% to 2.14 trillion won over the same period. Hana Bank's net profit stood at 1.19 trillion won.