Busan: BNK Financial Group announced a net profit of 171.8 billion won (US$119.5 million) for the first quarter, marking a 32.5 percent decrease compared to the same period last year.
According to Yonhap News Agency, the company's operating income for the January-March period was 205.8 billion won, reflecting a 33.9 percent drop from the previous year. Sales experienced a slight decrease of 0.1 percent, totaling 2.64 trillion won.
The reported earnings fell short of market expectations, as the average net profit estimate by analysts was 190.3 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.