The building of KB Financial Group is seen in this March 13, 2022 file photo provided by KB Financial Group. Yonhap

KB Financial Group on Thursday reported its first-quarter net income of 1.06 trillion won ($771 million), down 29.6 percent from a year earlier.

The company said in a regulatory filing that it posted 2.35 trillion won in operating profit for the quarter, compared with 2.14 trillion won a year ago. Sales fell 6 percent to 23.35 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 947.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (Yonhap)