Seoul: Shinhan Financial Group announced on Friday that its net income for the second quarter reached 1.57 trillion won (US$1.1 billion), marking an 8.7 percent increase from the same period last year.
According to Yonhap News Agency, the company's operating profit for the April to June period was recorded at 2.01 trillion won, reflecting an 8.7 percent rise from the previous year. Additionally, the revenue saw a significant increase of 29.2 percent, totaling 23.22 trillion won.
The reported earnings surpassed market expectations, with analysts' average net profit estimates standing at 1.44 trillion won, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.