Arab Today, arab today kb financial q3 net rises over 6fold
Last Updated : GMT 11:50:19
Arab Today, arab today
Arab Today, arab today

KB Financial Q3 net rises over 6-fold

Arab Today, arab today

Arab Today, arab today KB Financial Q3 net rises over 6-fold

Seoul - Yonhap

KB Financial Group Inc., South Korea\'s No. 2 banking group, said Friday its third-quarter earnings jumped more than six-fold on higher interest income and smaller loan-loss provision. Net profit came to 579 billion won (US$524 million) in the July-September period, compared with 90.6 billion won a year earlier, the group said in a regulatory filing. But net income declined 29.2 percent compared to the second quarter when it logged a one-off profit by selling stakes in Hyundai Engineering & Construction. The third-quarter bottom line was lower than the market consensus of 636.1 billion won in a poll of analysts by Yonhap Infomax, the financial news arm of Yonhap News Agency. A rise in net income came as the group\'s provisions to cover credit loss fell 55.3 percent on-year to 288 billion won. Its profit margin also improved from a year earlier because it could charge more interest on loans amid the central bank\'s tight bias. The group\'s net interest margin (NIM), a key barometer of profitability, reached 3.07 percent as of the end of September, up from 2.62 percent a year earlier. KB Financial is expected to see its NIM stay at the current level or trend slightly higher in the fourth quarter, its chief financial officer Yoon Jong-kyoo said at an investor conference. Shares of KB Financial closed at 45,000 won on the main bourse, up 4.17 percent from Thursday\'s close. The third-quarter business results came out after the market closed. Kookmin Bank, the flagship unit of the group, logged a net profit of 316.2 billion won during the last quarter, up 251 percent from a year ago. The group\'s total assets reached 363.6 trillion won as of the end of September, up 30.2 trillion won from the end of last year. Meanwhile, KB Financial said it plans to move to lower its short-term foreign currency debts to below the 30-percent level in a bid to brace against a possible worsening of global uncertainties. \"The portion of short-term foreign currency debts once reached 43 percent (of all foreign currency debts), but now it stands below 40 percent. In the long term, KB Financial plans to lower it to below 30 percent,\" Yoon said, adding the financial group plans to secure funds from Asia as part of efforts to diversity funding sources.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today kb financial q3 net rises over 6fold Arab Today, arab today kb financial q3 net rises over 6fold

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 06:11 2017 Wednesday ,22 February

Russia’s Rosneft, Libya’s NOC sign oil offtake deal

GMT 05:49 2017 Wednesday ,22 February

‘PSA to honor Opel job guarantees’

GMT 05:41 2017 Wednesday ,22 February

BHP to Trump: Protectionism will hurt growth

GMT 20:42 2017 Tuesday ,21 February

Amazon plans 5,000 new jobs in UK

GMT 05:43 2017 Tuesday ,21 February

CEFC China Energy wins 4% stake in UAE oil project
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday