Shinhan Financial Group-Q2 earnings

Shinhan Financial Group-Q2 earnings

Shinhan Financial Group Q2 net profit down 3.7 pct to 1.26 tln won

SEOUL, July 27 (Yonhap) -- Shinhan Financial Group Co. on Thursday reported its second-quarter net income of 1.26 trillion won (US$997.3 million), down 3.7 percent from a year earlier.

The company said in a regulatory filing that it posted 1.73 trillion won in operating profit for the quarter, compared with 1.71 trillion won a year ago. Sales fell 25.9 percent to 13.56 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 1.24 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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