Shinhan Group's Q1 net income up 8.7% on year, hits $1.1 billion

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Shinhan Group's Q1 net income up 8.7% on year, hits $1.1 billion

Logo of Shinhan Group [SCREEN CAPTURE]

Logo of Shinhan Group [SCREEN CAPTURE]

 
Shinhan Group on Thursday reported its first-quarter net income of 1.64 trillion won ($1.1 billion), up 8.7 percent from a year earlier.

 
The firm said in a regulatory filing that operating profit for the January to March period rose 10.8 percent on year to 2.15 trillion won. Revenue increased 76.8 percent to 28.49 trillion won.
 

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The earnings beat market expectations. The average estimate of net profit by analysts stood at 1.54 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Yonhap
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