Hana Financial Group announced on July 27 that it posted consolidated net profit of 2,020.9 billion won in the first half of the year, up 16.6 percent from last year’s 288.4 billion.
The financial group racked up 918.7 billion won in the second quarter.
In preparation for internal and external uncertainties, Hana Financial Group set aside provisions of 777.4 billion won in the first half of the year, including 310.4 billion won in preemptive provisions.
This represented a year-on-year increase of 84.1 percent, ensuring strong loss-absorbing capacity.
Hana Financial Group’s non-interest income grew by 196.5 percent year-on-year to 1,370.1 billion won, the highest half-yearly result since the foundation of the group, thanks to an improvement in its business structure.
In particular, its gain on trading and valuations inflated by 901.4 billion won year-on-year to 750.8 billion won due to higher trading performance in securities and foreign exchange derivatives of major affiliates, while commission income rose to 916.9 billion won due to higher asset management fees and credit- and foreign exchange-related fees.
Core income, comprised of interest income (4,407.2 billion won) and fee income (916.9 billion won), maintained its solid growth to reach 5,324.1 billion won, up 1.7 percent (86.3 billion won) year-on-year.
Net interest margin (NIM) slid by 4 basis points to 1.84 percent in the second quarter.
The company’s operating profit before provisions grew 37 percent year-on-year, demonstrating strong operating performance in the first half of the year.
In addition, its C/I ratio improved by 7.4 percentage points year-on-year to 37.1 percent, the lowest since the foundation of the financial group due to cost control efforts.
Hana Financial Group’s return on equity (ROE) stood at 10.87 percent and return on assets (ROA) was 0.71 percent. Its NPL coverage ratio hit 167.4 percent.
The estimated BIS ratio and common equity ratio remained stable at 15.22 percent and 12.80 percent, respectively, at the end of the second quarter. Its total assets including trust assets of KRW 171,291.6 billion won totaled 764,900.9 billion won.
Meanwhile, Hana Financial Group announced on August 14 that the Hana Financial Group Headquarters Building in Hana Dream Town in Cheongna, Incheon, took home the Gold Prize (first place) in the Future Project category at the 9th China Real Estate & Design Award (CREDAWARD), a design innovation award in China.
This marked the first time the design of the edifice has claimed first place at a design award in Asia, following four global architectural design prizes in Europe and the United States in 2021 and 2022, demonstrating the excellence of its innovative and eco-friendly space design.
In February 2021, the design of the headquarters building beat out more than 300 entries to become the first Asian building to pick up the Best Project of the Year Prize from American global architectural firm NBBJ.
In December, it nabbed the Gold Prize in the Unfinished Building category at the MIPIM Asia Awards 2021 in Hong Kong, and took the Winner title in the Unfinished Non-Residential Building category at the Best of Year Awards 2021 organized by Interior Design of the United States.
In addition, in October 2022, the design won four prestigious global architectural design prizes, including first place (Winner) in the Workplace Design category at the Innovation by Design Awards organized by Fast Company, an American business magazine.
A total of 853 companies from 17 countries competed in the awards, and renowned academic and industry judges selected the final winners (Gold) in 10 categories, focusing not only on architectural aesthetics but on environment protection, user experience, and economic efficiency through presentation reviews for about six months.