Shinhan Financial Group Co. on Thursday reported its fourth-quarter net profit of 576.1 billion won (US$433.9 million), up 49.3 percent from a year earlier.

The company said in a regulatory filing that it posted 904.5 billion won in operating profit for the quarter, compared with 580.1 billion won a year ago. Revenue rose 276 percent to 12.12 trillion won.

The earnings met market expectations. The average estimate of net profit by analysts stood at 571.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency