KakaoBank Corp. (323410.KS) on Wednesday reported higher first-quarter profit, supported by growth in operating revenue.
Profit before tax increased to 250.7 billion won from 182.5 billion won, helped by a significant rise in non-operating income.
Non-operating income rose to 93.8 billion won from 1.4 billion won last year.
Operating profit declined to 157.6 billion won from 183 billion won a year earlier.
Net income attributable to shareholders rose to 187.3 billion won from 137.4 billion won in the previous year.
Provision for credit losses increased to 64.6 billion won from 60.9 billion won a year ago.
Operating revenue increased to 819.3 billion won from 784.5 billion won, driven by higher interest and fee income.
Interest income increased to 659.7 billion won from 602.2 billion won, and Fee and commission income rose to 80.8 billion won from 77.6 billion won.
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