Hana Financial Group Enjoys 13.6% Increase in Core Earnings, Shows Solid Growth in H1
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Hana Financial Group Enjoys 13.6% Increase in Core Earnings, Shows Solid Growth in H1
Will implement a shareholder return policy through various capital utilization measures to boost shareholder value

27(Sat), Aug, 2022




Chairman Ham Young-joo of Hana Financial Group. (Photos: Hana Financial Group)


Hana Financial Group announced that it posted a cumulative consolidated net profit of 1.727.4 billion won in the first half of 2022, including 825.1 billion won in the second quarter of 2022. 

Hana Financial Group accumulated a large-scale preemptive provision for bad debts of 184.6 billion won in the first half of the year to prepare for internal and external uncertainties such as concerns about a global economic downturn. 





In preparation for internal and external uncertainties, such as concerns about a global economic slowdown, the group additionally set aside 124.3 billion won in preemptive bad debt provisions in the second quarter following 60.3 billion won in the first quarter.

Hana Financial Group’s accumulated consolidated net income for the first half of the year shrank by 1.4 percent, or 25.4 billion won, compared to the same period of the previous year due to one-off factors. 

Some include preemptive provisions for bad debts in preparation for internal and external uncertainties, non-monetary foreign exchange losses due to currency depreciation, and special retirements in the first quarter. 

The group’s core profit which combines interest income (4,190.6 billion won) and commission income (940.4 billion won) rose by 13.6 percent or 615.9 billion won from the same period last year to reach 5,131 billion won, showing continuous solid growth. 

This is attributable to a spike in loan assets centered on small and medium-sized enterprises and a rise in foreign exchange and credit card fees.

In addition, efforts to improve the profit portfolio, such as increasing the average balance of core low-interest-rate deposits, and to support technology finance by providing funds to innovative companies with high technology also contributed to driving up core profits. 

The group’s second quarter net interest margin stood at 1.8 percent. Its ROE and ROA stood at 10.08 percent and 0.67%, respectively.

Hana Financial Group’s Board of Directors resolved to pay shareholders an interim dividend of 800 won per share after an in-depth discussion in consideration of the succession of its 15-year-old interim dividend payment tradition and the expansion of active shareholder return policies. 

In the future, Hana Financial Group will continue to implement a shareholder return policy through various capital utilization measures such as dividend expansion and the buyback and cancellation of treasury stocks in order to repay shareholders’ trust and boost shareholder value. 

The financial group plans to promote various programs for small business owners and financially marginalized groups to help all members of society enjoy win-win growth and prosperity. 




A view of the Hana Financial Group’s headquarters in Jung-gu, Seoul.



   
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