Banks' Q1 net profit jumps on KDB's one-off gains
SEOUL, May 17 (Yonhap) -- South Korean banks saw their first-quarter earnings jump 71 percent from a year earlier due to one-off gains from state-run Korea Development Bank (KDB), data showed Monday.
The combined net profit stood at 5.5 trillion won (US$4.8 billion) for the January-March period, compared with a profit of 3.2 trillion won a year earlier, the Financial Supervisory Service (FSS) said in a statement.
In the first quarter, the KDB reported an unusually high net profit of 1.4 trillion won, thanks to stock investments and dividend income, the FSS said.
Preliminary interest income for the first quarter stood at 10.8 trillion won, up 700 billion won from a year earlier.
The average net interest margin of the banks, a key barometer of profitability, stood at 1.43 percent for the first quarter, up 0.05 percentage point from a year ago.
kdh@yna.co.kr
(END)
-
Ateez realizes importance of direct interactions with fans during world tours
-
U.S. B-1B strategic bomber returns to S. Korea as N.K. fires missile
-
(URGENT) N. Korean leader Kim Jong-un calls for completing readiness for nuclear attack against enemies: KCNA
-
BTS member Jimin's single tops iTunes charts in 110 countries
-
TWICE's new album hits No. 2 on Billboard 200
-
Ateez realizes importance of direct interactions with fans during world tours
-
Defense ministry sets out to normalize military intelligence-sharing deal with Japan
-
(LEAD) S. Korea fully restores bilateral military information-sharing pact with Japan
-
(LEAD) Political divide intensifies in S. Korea over Yoon-Kishida summit
-
U.S. B-1B strategic bomber returns to S. Korea as N.K. fires missile
-
Zebra escapes from Seoul zoo
-
Ateez realizes importance of direct interactions with fans during world tours
-
(LEAD) Zebra captured some 3 hours after escaping from Seoul zoo
-
(LEAD) N. Korea tests 'underwater nuclear attack drone,' cruise missiles for nuclear warhead: KCNA
-
N. Korea says it conducted new underwater nuke weapon test, strategic cruise missile drill: KCNA