Seoul: Shinhan Group on Tuesday reported its third-quarter net income of 1.45 trillion won (US$1 billion), marking a 9.6 percent increase from the previous year.
According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating income for the July-September period saw a 4.5 percent increase year-on-year to reach 1.95 trillion won. However, sales experienced a decrease of 18.1 percent, totaling 9.51 trillion won.
The reported earnings surpassed market expectations. Analysts had estimated the net profit to be around 1.34 trillion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.