April 25, 2024

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[THE INVESTOR] NongHyup Financial Group said on July 26 its net profit jumped 61.8 percent in the first half from a year earlier, thanks to a rise in interest income and lower loan-loss provisions.

Net profit reached 829.5 billion won (US$740 million) for the January-June period, compared with a profit of 512.7 billion won for the same period last year, the group said in a statement. 

NongHyup Financial’s interest income grew 9.6 percent on-year to 3.8 trillion won in the first half.

Income from commission fees rose 14.1 percent on-year to 611.7 billion won for the first half, NongHyup Financial said.

NongHyup Bank, the group’s flagship banking unit, reported a net profit of 668.4 billion won for the first half.

Kim Kwang-soo, chairman of NongHyup Financial, told reporters that the financial group will continue to make efforts for its sustainable growth. 

By Song Seung-hyun and newswires (ssh@heraldcorp.com)