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Banking Essentials Newsletter: 17th April Edition

Silla Co. Q2 profit climbs YOY

Silla Co. Ltd. said its normalized net income for the second quarter came to 165.77 South Korean won per share, an increase from 38.83 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.65 billion won, a gain from 613.4 million won in the prior-year period.

The normalized profit margin increased to 4.4% from 1.0% in the year-earlier period.

Total revenue totaled 60.00 billion won, compared with 60.08 billion won in the year-earlier period, and total operating expenses increased from the prior-year period to 59.25 billion won from 57.71 billion won.

Reported net income totaled 5.84 billion won, or 365.03 won per share, compared to a loss of 160.6 million won, or a loss of 10.16 won per share, in the year-earlier period.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.