Shinhan Financial Group Q3 net profit up 10.9% on rising interest income
Shinhan Financial Group said Tuesday its net income rose more than 10 percent in the third quarter from a year earlier driven by a rise in interest income. The banking group posted a net profit of 1.6 trillion won ($1.2 billion) for the July-September period, up 10.9 percent from a year earlier. Operating profit for the three-month period stood at 1.9 trillion won, down 2.4 percent from a year…
Shinhan Financial Group reported a 10.9% increase in net profit for Q3, reaching 1.6 trillion won ($1.2 billion). The rise in interest income was the primary driver of this growth. Operating profit for the quarter was 1.9 trillion won, a 2.4% decrease from the previous year. However, overall revenue surged by 95.9% to 18.64 trillion won.
Analysts' average estimate for the company's net profit during this period was 1.61 trillion won. While interest income grew by 8.3% to 3.2 trillion won, commission income fell by 18.1% to 790.2 billion won. For the first nine months of the year, Shinhan Financial Group's net profit totaled 5.03 trillion won, marking a 12.7% increase compared to the previous year.
The first nine months surpassed the group's annual net profit of 4.97 trillion won from 2025. Shinhan Bank, the company's flagship bank, reported a net profit of 1.2 trillion won.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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