IBK-Q1 earnings

IBK Q1 net income up 11.4 pct to 659.7 bln won

SEOUL, April 25 (Yonhap) -- Industrial Bank of Korea on Monday reported its first-quarter net profit of 659.7 billion won (US$527.8 million), up 11.4 percent from a year earlier.

The company said in a regulatory filing that operating income for the January-March period rose 9 percent on-year to 850.6 billion won. Sales increased 5.2 percent to 6.03 trillion won.

The earnings met market expectations. The average estimate of net profit by analysts stood at 654.2 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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