RETAIL BANKING | Cesar Tordesillas, Korea

BS Financial's H1 net reaches 225.8B won

BS Financial Group Inc., the holding company of regional lender Busan Bank, said Monday its net profit came to 225.8 billion won in the first half of the year.

   The first-half results reflected earnings from March 15 to June 30, because the holding company, which has Busan Bank and three other affiliates under its wing, started operating on March 15, it said.

   Revenue stood at 1.4 trillion won, while operating profit came in at 296.7 billion won, the group said in a regulatory filing.

   The group's flagship Busan Bank raked in a net 230.5 billion won on a revenue of 1.3 trillion won in the January-June period.

   BS Financial's total assets reached 36.9 trillion won as of the end of June, with non-performing loans accounting for 1.05 percent of its total lending, the group said.

   The group is based in Busan, the country's largest port city 453 kilometers southeast of Seoul.

The full story is available at Yonhap News.

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