Hana Financial Group achieved a net profit of 3.7 trillion won last year, marking its highest performance to date.
Hana Financial Group reported on 4th that its net profit for the last year totaled 3.7388 trillion won. This figure surpasses the previous record of 3.5706 trillion won set in 2022. Compared to the performance in 2023, which was 3.4217 trillion won, the net profit increased by 9.3%.
When looking at Hana Bank separately, its net profit last year was 3.3564 trillion won, a 3.5% decrease from the previous year (3.4766 trillion won). In addition, Hana Securities recorded a net profit of 225.1 billion won, Hana Card earned 221.7 billion won, and Hana Capital made 116.3 billion won. On the other hand, Hana Life and Hana Savings Bank reported losses of 700 million won and 32.2 billion won, respectively.
Hana Financial's total net profit for the fourth quarter last year was 531.5 billion won, up 15.7% compared to the same period the previous year (443.8 billion won). However, this amount is about half of the 1.1566 trillion won reported in the third quarter of last year.
Last year, Hana Financial collected interest income of 8.761 trillion won. The net interest margin (NIM) for Hana Financial and Hana Bank in the fourth quarter of last year was 1.69% and 1.46%, respectively. This showed a slight increase compared to the previous quarter, as the funding costs decreased due to the maturity of high-interest time deposits, according to Hana Financial.
Hana Financial's commission income last year was 2.0696 trillion won, reflecting a 15.2% increase from 2023 (1.7961 trillion won).
As of the end of last year, the group's arrears ratio stood at 0.51%, up 0.06 percentage points from 0.45% at the end of the previous year. During the same period, the group's fixed arrears ratio also increased from 0.50% to 0.62%, rising by 0.12 percentage points.
Meanwhile, the board of directors of Hana Financial has resolved to conduct a share buyback and cancellation worth 400 billion won. This buyback and cancellation is the largest since the group was established.
The cash dividends were set at 1,800 won per common share. Including the previously paid quarterly dividend of 1,800 won, the total cash dividends amount to 3,600 won. The estimated common equity tier 1 (CET1) capital ratio of the group, which serves as the basis for calculating shareholder returns, was 13.13% as of the end of last year.