KB Financial Group Inc. on Thursday reported its first-quarter net income of 1.06 trillion won (US$773 million), down 29.6 percent from a year earlier.
The company said in a regulatory filing that it posted 2.35 trillion won in operating profit for the quarter, compared with 2.14 trillion won a year ago. Sales fell 6 percent to 23.35 trillion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 947.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency