Industrial Bank of Korea Q1 net income up 12.8 pct to 723.3 bln won

Industrial Bank of Korea-Q1 earnings

Industrial Bank of Korea Q1 net income up 12.8 pct to 723.3 bln won

SEOUL, April 27 (Yonhap) -- Industrial Bank Of Korea on Thursday reported its first-quarter net income of 723.3 billion won (US$540.6 million), up 12.8 percent from a year earlier.

Operating income for the January-March period was 915.6 billion won, up 10.4 percent from a year ago, the company said in a regulatory filing. Sales rose 57.7 percent to 9.04 trillion won.

The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 799.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

(END)

(C) Yonhap News Agency. All Rights Reserved