Top 5 Financial Groups' Cumulative 3-Quarter Interest Income Exceeds 40 Trillion Won... Record-High Net Profit

As interest income surged during the rate-hike cycle, the nation's top five financial holding companies posted a cumulative net profit nearing 20 trillion won for the first three quarters of this year.

According to disclosures released as of today (October 29), the cumulative net profit of the top five financial holding groups (KB, Shinhan, Hana, Woori, and NH Nonghyup) for the first three quarters of this year totaled 19.6297 trillion won.

This represents an 8.62% increase compared to the same period last year (18.0723 trillion won), marking the largest cumulative third-quarter figure on record.

KB Financial Group maintained its position as the top financial group, posting 5.7921 trillion won, up 670.4 billion won (13.09%) from the same period last year.

Shinhan Financial Group posted 5.0274 trillion won, up 566.5 billion won (12.7%); Hana Financial Group recorded 3.6243 trillion won, up 190.9 billion won (5.56%); and NH Nonghyup Financial Group posted 2.5278 trillion won, up 267.9 billion won (11.85%).

Meanwhile, Woori Financial Group posted 2.6581 trillion won, down 138.3 billion won (4.95%).

Looking solely at the third-quarter performance, the combined net profit of the five financial groups reached 6.5114 trillion won, up 6.44% from the third quarter of last year (6.1175 trillion won).

The cumulative interest income of the five major financial groups for the first three quarters reached 40.5034 trillion won, a 6.40% increase from the same period last year (38.0679 trillion won).

Analysts attribute this growth to expanding interest income driven by loan growth during a period of rising interest rates.

In addition, the cumulative non-interest income of the five financial groups for the first three quarters stood at 14.5952 trillion won, up 12.38% from a year earlier (12.5113 trillion won).

However, non-interest income for the third quarter alone (3.6915 trillion won) dropped 39.90% compared to the previous quarter (6.1429 trillion won).

Unlike the second quarter, when non-interest income such as various fees surged thanks to soaring stock prices, the third quarter saw a decrease driven by declines in brokerage commissions and securities-related gains.

Building on their strong performance, the financial holding companies plan to continue expanding shareholder returns.

(File Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.