Shinhan Financial Group Q4 net income down 25.5 pct to 353.8 bln won

Shinhan Financial Group-Q4 earnings

Shinhan Financial Group Q4 net income down 25.5 pct to 353.8 bln won

SEOUL, Feb. 8 (Yonhap) -- Shinhan Financial Group Co. on Wednesday reported its fourth-quarter net profit of 353.8 billion won (US$281.4 million), down 25.5 percent from a year earlier.

The company said in a regulatory filing that it posted 550 billion won in operating profit for the quarter, compared with 972.3 billion won a year ago. Revenue fell 44.9 percent to 4.91 trillion won.

The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 543.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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