Daegu Bank Q1 net nose-dives 60.5 pct

SEOUL, April 27 (Yonhap) -- Daegu Bank, a South Korean regional lender, said
Monday its earnings more than halved in the first quarter from a year earlier on
higher loan-loss reserves.

Net profit came to 30.6 billion won (US$22.8 million) in the January-March
period, down 60.5 percent from the same period last year, Daegu Bank said in a
regulatory filing.
Revenue, however, gained 7.7 percent to 963.7 billion won while operating income
plunged 60.8 percent to 41.1 billion won, it said.
pbr@yna.co.kr
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