NH Nonghyup Financial H1 Net Profit 1.7058 Trillion KRW... Highest Semiannual Record

Interest Income 4.2065 Trillion KRW
Non-Interest Income 1.2501 Trillion KRW

NH Nonghyup Financial Group

NH Nonghyup Financial announced on the 28th that it achieved a net profit of 1.7058 trillion KRW in the first half of this year. This is an increase of 26.3% (355.3 billion KRW) compared to the same period last year (1.3505 trillion KRW). The net profit for the first half of this year is the highest ever recorded on a half-year basis.

The net profit for the first quarter was 947.1 billion KRW, and for the second quarter, it was 758.7 billion KRW. Looking at the second quarter alone, net profit decreased by 19.9% (188.4 billion KRW) compared to the first quarter due to an increase in provision expenses (257.2 billion KRW), but compared to the second quarter of last year (754.2 billion KRW), it increased by 0.6%.

Breaking down the first half results by segment, interest income decreased, but non-interest income such as securities operations improved significantly. Interest income for the first half was 4.2065 trillion KRW, down 7.9% (360.4 billion KRW) from the same period last year. Interest income at Nonghyup Bank increased, but Nonghyup Life decreased due to the introduction of a new accounting system.

Non-interest income for the first half was recorded at 1.2501 trillion KRW, a 100% (625.2 billion KRW) increase compared to the same period last year. Among these, gains from securities operations increased by 153.1% (554.6 billion KRW) to 916.8 billion KRW compared to the first half of last year. Fee income rose 8.6% (67.3 billion KRW) to 850.2 billion KRW, and selling and administrative expenses for the first half decreased by 2.41% (53.4 billion KRW) to 2.1568 trillion KRW.

This content was produced with the assistance of AI translation services.