 |
| ▲ The logo of the Financial Supervisory Service provided by the agency (PHOTO NOT FOR SALE) (Yonhap) |
financial holding firms-H1 earnings
Financial holding firms' H1 net profit grow over 10 pct on higher non-interest income
SEOUL, Sept. 26 (Yonhap) -- South Korea's financial holding companies saw their combined net profit jump more than 10 percent in the first half of 2023 from a year earlier largely thanks to higher non-interest income, preliminary data showed Tuesday.
The combined net profit of 10 financial holding firms for the six months ended in June was 13.6 trillion won (US$10.2 billion), up 1.2 trillion won from the same period last year, according to data from the Financial Supervisory Service (FSS).
The 10 firms include KB Financial Group Inc., Shinhan Financial Group Co., Hana Financial Group Inc. and Woori Financial Group Inc.
The FSS attributed the increase to a rise in the companies' non-interest income from banks, as well as the investment and insurance sectors.
Banks under the holding firms saw their combined net profit increase 16.7 percent on-year, while the combined net income of their financial investment arms and insurance arms jumped 78.7 percent and 41.7 percent on-year, respectively.
The FSS data also showed that the total assets of the 10 holding firms reached 3.48 quadrillion won as of end-June, up 1.7 percent from six months ago.
(END)
(C) Yonhap News Agency. All Rights Reserved
