Shinhan Financial Group posts 10.9% rise in Q3 net profit
Shinhan Financial Group reported a third-quarter net profit of 1.6 trillion won, a 10.9% increase year over year.
The South Korean financial conglomerate announced a net income of 1.6 trillion won for the July-September period, up 10.9% from the same quarter last year. Operating profit fell 2.4% to 1.9 trillion won, while revenue nearly doubled to 18.64 trillion won. Analysts had expected a net profit of 1.61 trillion won, according to a Yonhap Infomax survey, so the results matched market forecasts.
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Why it matters
The results show Shinhan Financial Group's profitability growth and revenue surge, signaling health in South Korea's banking sector.
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Shinhan Financial Groupnet profitthird quarteroperating profitrevenueanalystsYonhap Infomax
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