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Bank Earnings, First Quarter 2019

May 14, 2019

Domestic banks preliminarily reported net income of KRW3.8 trillion for the first quarter of 2019, a decrease of KRW0.6 trillion compared to the same period a year earlier. A breakdown of net income showed that interest income grew KRW0.4 trillion and non-interest income remained similar to the previous year. However, one-off factors including declining subsidiaries-related income contributed to decreasing the domestic banks’ net income. Meanwhile, selling and administrative expenses expanded KRW0.5 trillion from a year earlier while loan loss expenses and income tax expenses were reduced KRW0.1 trillion and KRW0.2 trillion, respectively.