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RETAIL BANKING | Tony Chua, Korea

KB Financial third quarter profit soared six-fold to $519.2mn

Yet the results still fell short of analysts’ expectation.

KB Financial Group , which owns South Korea's top mortgage lender Kookmin Bank, said on Friday its third-quarter net profit rose more than six-fold, helped by normalising loan-loss provisions, but it still fell short of forecasts.

KB posted a net profit of 579 billion won ($519.2 million) for the three-month period ending September, compared with a 91 billion won profit in the prior-year period.

Fifteen analysts polled by Thomson Reuters I/B/E/S forecast an average net profit of 645 billion won.

View the full story in Reuters.

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