A Job Well-Done

Hana Financial Group records its history high Q1 results with profits up 70 pct from previous quarter

Hana Financial Group posted a record profit in the Q1 amounting to 320 billion won, up 70 percent from the Q4 last year, registering 320 billion won in net loss, the group said April 16.
Increased net interest margin, up 0.14 percent from last year at 2.27 percent was attributed to the huge improvement in profit, which continued to rise from the Q2 last year. The increased NIM helped the group to record 638.8 billion won in the Q1 this year, they said.
Fee income, profits from securities dealings and credit card operations also performed well to post 216.6 billion won in total profit, up 10.8 percent from 2009.
They said the increase in profit has been attributed to Hana Daetoo Securities continued average quarterly profit amounting to 60 billion won since the Q2 in 2009, along with Hana SK Card which also performed well to boost the group’s profit, totaling 900.4 billion won including non-bank sector profit.
Hana Bank posted 306.1 billion won in net profit in the Q1, up 54.6 percent from the Q4 of last year as increased NIM brought 642.9 billion won in interest earnings, while non-banking profit also made substantial jump in the quarter.
The group’s asset health has also been very sound with non-performing asset ratio stood at 1.04 percent during the Q1, down 0.01 percent compared to the Q4 last year.
The default rate came to 0.56 percent in the Q1,down 0.05 percent from the Q4 in 2009, the group said.
The Hana Financial Group envisages a high-net-worth comprehensive financial service network. Its ultimate aim to become a business that continues to create value for its customers, shareholders, employees and society, while fulfilling its social responsibility.
In the process, based on the economic strength it has built up through honest and faithful corporate activities.
The group exerting every possible effort to join the ranks of the world’s top 50 financial groups by 2015 and become an Asia-based globalized financial group, while pushing ahead with the value it cherishes, namely customer satisfaction, the creation of employee value, the maximization of shareholder value, and contributor to the community it operates.
The group’s vision and mission: providing support for customers’ success in both business and life, regarding them as the purpose of business, rather than an object; providing customers with one-stop shopping convenience; and helping customers to manage their assets and build a happy life.
Creating employee value as workplace with a pleasure atmosphere. The group aims to be positive development of educational program designed to train employees as financial expert with a globalized mindset; Establishment of a system in which employees are given equal opportunities and receive reasonable remuneration; and fostering a performance-oriented workplace culture based on mutual trust and stability.
Maximization of shareholder value as business partners: Maximization of shareholder value by maintaining the highest levels of stock prices and realizing transparent management; invigoration of communication with investors, including shareholders, and establishment of a solid governance structure.
Contribution to the community as a leading financial business.
Ongoing social contribution based on socially responsible management; fulfilling its role as a member of the community via sharing a culture of togetherness , and environmental-friendliness; a variety of activities as a leading financial group.
From 2010-2014, the group will strive to be a leading financial group in East Asia joining the ranks of the world’s top 100 financial groups. In 2015, the group will be an Asia-based global financial group joining the ranks of the world’s top 50 financial groups.
The group strives to be one of the country’s leading financial groups and joined the ranks of the world’s 100 financial groups, after starting out as Korea Investment and Finance Co., Korea’s first financial company established with purely private capital in 1971. Throughout its 38-year history, Hana Financial Group has continued to striving to provide a high-net-worth comprehensive financial service to its customers, concentrating on making customers satisfied with unique ideas, good-quality services and differentiated products. nw

Chairman Kim Seung-yu of Hana Financial Group.