The headquarters of Shinhan Financial Group in Seoul / Korea Times file

Shinhan Financial Group on Friday reported its second-quarter net income of 1.45 trillion won ($1 billion), up 14.4 percent from a year earlier.

The company said in a regulatory filing that it posted 1.85 trillion won in operating profit for the quarter, compared with 1.73 trillion won a year ago. Revenue rose 32.3 percent to 17.97 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 1.28 trillion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (Yonhap)