{"id":64579,"date":"2024-04-26T05:00:00","date_gmt":"2024-04-26T00:00:00","guid":{"rendered":"http:\/\/myanmarnewsgazette.com\/?guid=971f8eead55fdc3e8cb933fa19104ba8"},"modified":"2024-04-26T05:00:00","modified_gmt":"2024-04-26T00:00:00","slug":"lead-hana-financial-q1-net-down-6-pct-on-els-loss-coverage","status":"publish","type":"post","link":"https:\/\/myanmarnewsgazette.com\/lead-hana-financial-q1-net-down-6-pct-on-els-loss-coverage\/","title":{"rendered":"(LEAD) Hana Financial Q1 net down 6 pct on ELS loss coverage"},"content":{"rendered":"
\n Hana Financial Group Co. on Friday said its first-quarter net profit dropped by 6.2 percent on costs to pay compensation to customers who suffered massive losses on the purchases of equity-linked securities.<\/p>\n
Its net profit reached 1.03 trillion won (US$757 million), down from a profit of 1.1 trillion won a year earlier, the company said in a regulatory filing.<\/p>\n
Operating profit for the January-March period rose 2.9 percent on-year to 1.56 trillion won. Revenue increased 0.2 percent to 22.44 trillion won.<\/p>\n
Hana Financial said it set aside some 180 billion won in reserves for the compensation of incomplete sales involving equity-linked securities products tracking Hong Kong’s H Index.<\/p>\n
Its interest income rose 2.1 percent on-year to 2.22 trillion won in the first quarter, with its non-interest income dipping 8.5 percent to 713 billion won.<\/p>\n
The group’s net interest margin, the difference between interest received and paid, came to 1.77 percent in the first quarter, up from 1.76 percent a year earlier.<\/p>\n
Sourc
\ne: Yonhap News Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
Hana Financial Group Co. on Friday said its first-quarter net profit dropped by 6.2 percent on costs to pay compensation to customers who suffered massive losses on the purchases of equity-linked securities.<\/p>\n
Its net profit reached 1.03 trillion won …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"yoast_head":"\n