Hana Financial's net profit hits all-time high in 2018

SEOUL, Jan. 31 (Yonhap) -- Hana Financial Group Inc., a major South Korean banking group, said Thursday its net profit reached a record high last year on the back of solid interest income.

Net profit stood at 2.24 trillion won (US$2.02 billion) in 2018 on a consolidated basis, up 10 percent from a year earlier, the group said in a statement.

It is the largest amount since its establishment in 2005, according to the business group.

Hana Financial's interest income and earnings from commission fees surged 10.5 percent on-year to 744.3 billion won last year, which also was a record high.

Hana Financial's net interest margin, a key barometer of profitability, stood at 1.85 percent, the group said.

Flagship KEB Hana Bank posted a net profit of 2.09 trillion won last year, down 0.5 percent on year, it added.

graceoh@yna.co.kr
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