Hana Financial's net profit jumps 36.4 pct in Q1

SEOUL, April 20 (Yonhap) -- Hana Financial Group Inc., a major South Korean banking group, said Friday its net profit jumped 36.4 percent from a year earlier in the first quarter thanks to higher interest income.

First-quarter net profit stood at 671.2 billion won (US$629.5 million) in the January-March period on a consolidated basis, Hana Financial said in a regulatory filing

Interest income rose 12.5 percent on-year to 1.3 trillion won for the quarter, and income from commission fees climbed 20.8 percent on-year to 591 billion won.

Loan-loss provisions fell 56.8 percent on-year to 87.4 billion won, Hana Financial said.

Hana Financial's net interest margin, a key barometer of profitability, rose 0.04 percentage point to 1.99 percent in the first quarter.

Flagship KEB Hana Bank posted a net profit of 631.9 billion won for the quarter, up 32.2 percent from a year earlier.

KEB Hana Bank's interest income stood at 1.2 trillion won for the January-March period.
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