KB Financial`s net dives 59.4 pct in Q4

SEOUL, Feb. 10 (Yonhap) -- KB Financial Group Inc., South Korea's top financial
firm, said Wednesday its net profit slid 59.4 percent in the fourth quarter from
a year earlier after setting aside higher loan-loss reserves.
Net income stood at 17.8 billion won (US$15.3 million) in the October-December
period of last year, compared with 43.9 billion won for the same period in 2008,
KB Financial said in a regulatory filing.
Revenue also shrank 66.6 percent year-on-year to 6 trillion won, according to the
company.
Compared with three months earlier, KB Financial's bottom line was down 89.7
percent.
Shares of KB Financial ended up 1.03 percent to 48,850 won on the Seoul bourse
before the earnings were released.
pbr@yna.co.kr
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