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RETAIL BANKING | Cesar Tordesillas, Korea

KEB earns less than expected in Q3

Korea Exchange Bank's earnings for the third quarter was less than expected due to falling profit margins and higher loan-loss reserves.

Net profit amounted to 125.5 billion won or US$113.7 million in the July-September period, up 7.22 percent from a year earlier, said the bank controlled by Hana Financial Group Inc.

Earnings declined 20.5 percent from the second quarter.

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