Daegu Bank Q1 net nose-dives 60.5 pct

(ATTN: ADDS share price, key indicators in 4th, 5th para)
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.
Shares of Daegu Bank were trading at 8,560 won as of 10:08 a.m., down 0.58
percent from Friday's close.
As of the end of March, the rate of non-performing loans stood at 1.8 percent
with the lender's capital adequacy ratio, a key measure of financial health, at
13.4 percent, the bank said.
pbr@yna.co.kr
(END)