Hana Financial Group Reports Cumulative Q3 Net Profit of 2.6815 Trillion KRW, Up 27.4% YoY (Update)

Increase of 577.1 billion KRW compared to the previous year
9.287 billion KRW realized in Q3

[Asia Economy Reporter Kiho Sung] Hana Financial Group announced on the 22nd that it recorded a cumulative consolidated net profit of 2.6815 trillion KRW, including 928.7 billion KRW in the third quarter of this year. This represents a 27.4% (577.1 billion KRW) increase compared to the same period last year.

This result is attributed to the continuous growth of the non-bank sector due to diversification of the business portfolio (965.8 billion KRW, contribution ratio 36.0%, an increase of 4.7 percentage points compared to the same period last year) and stable cost management.

Major non-bank affiliates contributed to the group's sustained growth by recording net profits of 409.5 billion KRW (an increase of 123.2 billion KRW, 43.0% compared to the same period last year) for Hana Financial Investment, 199.0 billion KRW (an increase of 84.6 billion KRW, 73.9%) for Hana Card, and 193.1 billion KRW (an increase of 66.0 billion KRW, 51.9%) for Hana Capital, respectively, for the cumulative third quarter.

Hana Bank recorded a cumulative consolidated net profit of 1.947 trillion KRW, including 694.0 billion KRW in the third quarter of 2021. This is a 17.7% (292.6 billion KRW) increase compared to the same period last year.

Hana Financial Group continued a solid core profit growth trend through an increase in corporate-centered loan assets and diversification of fee income. The cumulative core profit for the third quarter, combining interest income (4.9941 trillion KRW) and fee income (1.8798 trillion KRW), increased by 14.2% (854.6 billion KRW) compared to the same period last year, reaching 6.8739 trillion KRW. The group's net interest margin (NIM) for the third quarter is 1.64%.