Accumulated Maximum Non-Interest Income Realized in Q3
Hana Financial Group announced on the 27th that its cumulative net profit for the third quarter reached 2.9779 trillion KRW. This represents a 4.2% increase compared to the previous year and is the largest cumulative amount ever recorded.
The net profit for the third quarter was 957 billion KRW, a 14.95% decrease compared to the previous year.
To prepare for domestic and international uncertainties, Hana Financial set aside a large provision totaling 1.2183 trillion KRW, including a proactive cumulative provision of 383.2 billion KRW for the third quarter. The company stated that this is a 105% increase compared to the same period last year, securing sufficient loss absorption capacity.
The group's non-interest income, including fee income (1.3825 trillion KRW) and trading gains (787.6 billion KRW), totaled 1.6964 trillion KRW, a 125.5% increase compared to the same period last year. This is the highest cumulative third-quarter performance since the establishment of the holding company.
The cumulative core profit for the third quarter, combining interest income (6.7648 trillion KRW) and fee income (1.3825 trillion KRW), was 8.1473 trillion KRW, a 2.2% (173.3 billion KRW) increase compared to the same period last year. The group's net interest margin (NIM) for the third quarter was 1.79%.
At the end of the third quarter, the group's non-performing loan (NPL) ratio was 0.46%, the delinquency rate was 0.46%, and the NPL coverage ratio was 167.6%. The group's estimated Basel III (BIS) capital adequacy ratio was 15.26%, and the common equity tier 1 capital ratio was 12.74%, maintaining sufficient capital capacity.
Looking at the performance by major affiliates, Hana Bank posted a cumulative consolidated net profit of 2.7664 trillion KRW. This is a 23.3% increase compared to the same period last year, driven by loan growth focused on high-quality assets and a 402.5% increase in non-interest income compared to the previous year. The net profit for the third quarter was 927.4 billion KRW. The bank's core profit, combining cumulative third-quarter interest income (5.9648 trillion KRW) and fee income (676.1 billion KRW), increased by 8.94% year-on-year to 6.6409 trillion KRW. The bank's net interest margin (NIM) for the third quarter was 1.57%.
As of the end of the third quarter, the NPL ratio was 0.23%, the NPL coverage ratio was 234.5%, and the delinquency rate was 0.29%. Hana Bank's total assets as of the end of the third quarter, including trust assets of 94.6509 trillion KRW, amounted to 601.1566 trillion KRW.
As of the end of the third quarter, Hana Capital posted a net profit of 191 billion KRW, Hana Card 127.4 billion KRW, Hana Asset Trust 65.6 billion KRW, Hana Life Insurance 17 billion KRW, while Hana Securities recorded a net loss of 14.3 billion KRW.
Meanwhile, Hana Financial's board of directors resolved to pay a cash dividend of 600 KRW per share for the third quarter.
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