SEOUL, July 27 (Yonhap) -- IBK on Monday reported its second-quarter net income of 689.5 billion won (US$469.7 million), down 0.7 percent from a year earlier.

The banking firm said in a regulatory filing that it posted 915.1 billion won in operating profit for the quarter, compared with 927.4 billion won a year ago. Revenue fell 5.7 percent to 9.66 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 671 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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