Hana Financial Group said on the 24th that it posted net income of 1.21 trillion won (consolidation basis) in the first quarter this year. That was up 7.3% from the same period a year earlier (1.1277 trillion won), marking the highest quarterly result on record.
Hana Financial said it delivered results above market expectations on the back of diversification of its revenue portfolio, expansion of its asset base, and companywide expense efficiencies.
Hana Financial's first-quarter core profit (interest income + fee income) was 3.1731 trillion won, up 13.6% from a year earlier. Interest income was 2.5053 trillion won, and fee income was 667.8 billion won. The group's net interest margin (NIM) was 1.82%. Fee income increased 28% (146.2 billion won) from a year earlier.
Return on equity (ROE), a key profitability metric, was 10.91%, improving by 0.29 percentage points from a year earlier, and return on assets (ROA) was 0.73%. The group's estimated common equity Tier 1 (CET1) ratio was 13.09%.
Hana Bank posted first-quarter net income of 1.1042 trillion won this year, up 11.2% from a year earlier. Hana Securities recorded net income of 103.3 billion won, up 37.1% from a year earlier. Hana Card posted 57.5 billion won, Hana Capital 53.5 billion won, Hana Life 7.9 billion won, and Hana Asset Trust 6.7 billion won in net income, respectively.
Hana Financial's board on the day approved a first-quarter cash dividend of 1,145 won per share. That was about 11.6% higher than last year's average dividend per share. It will also proceed with a 200 billion won share repurchase and cancellation.