Shinhan Financial : Third-Quarter Net Profit Rose 11%

By Kwanwoo Jun

Shinhan Financial Group Co.'s third-quarter net profit rose 11% on year, led by steady growth in its interest and fee incomes.

Net profit was 1.166 trillion Korean won ($1.03 billion), compared with KRW1.048 trillion in the same quarter a year earlier, the South Korean banking group said Tuesday. That beat a FactSet consensus forecast for net profit of KRW900.85 billion.

Revenue fell 34% to KRW8.243 trillion, while operating profit gained 3.6% to KRW1.468 trillion.

Write to Kwanwoo Jun at [e-mail]

(END) Dow Jones Newswires

10-27-20 0342ET