Hana Financial Group announced on Feb. 9 that it racked up net profit of 3,625.7 billion won on a consolidated basis in 2022.
The figure represented a 2.8 percent increase over the previous year. Its net profit ascended by 2.8 percent last year thanks to the solid growth of loan assets and increased foreign exchange-related profits.
To enhance shareholder value, Hana Financial Group plans to purchase and cancel treasury stocks worth 150 billion won within this year.
The financial group aims to attain a total shareholder return of 50 percent, manages the common equity capital ratio at an appropriate level, and continuously promotes the diversification of shareholder return policies such as cash dividends.
This is the result of the revitalization of sales by utilizing the group's strengths in corporate finance and foreign exchange despite additional accumulation of loan loss provisions due to uncertainties in economic conditions at home and abroad.
Hana Financial Group’s foreign exchange trading profit in 2022 increased by 1,246.7 percent (477.8 billion won) from 2021 to 516.1 billion won.
Its foreign exchange commission rose by 37 percent (55.9 billion won) to 207.1 billion won.
“These results are attributable to the fact that Hana Financial Group pumped up efforts to revitalize business such as finding demand for forward exchange and to expand profits of foreign exchange and derivatives products using the global foreign exchange market,” a Hana Financial Group official explained.
Its core profit also continued to grow. They included interest income (8,919.8 billion won) and commission income (1,744.5 billion won).
They climbed 14.7 percent from 2021 to 10,664.2 billion won. Its net interest margin (NIM) for the fourth quarter stood at 1.96 percent.
Hana Financial Group’s board of directors decided to pay a cash dividend of 2,550 won per common share at the end of 2022.
The total cash dividend, including the already paid interim dividend of 800 won, is 3,350 won which will be confirmed at a general shareholders' meeting in March.
The group's annual dividend payout ratio is 27 percent. Its dividend yield stood at about 8 percent based on the closing price of 2022.
Hana Financial Group decided to repurchase and cancel 150 billion won worth of treasury stocks within this year to enhance shareholder value.
The group also established a capital management plan to enhance the visibility of its capital policies and a mid- to long-term shareholder return policy.
By affiliate, Hana Bank racked up an annual consolidated net profit of 3,169.2 billion won in 2022, including 925.4 billion won in the fourth quarter of 2022.
The net profit represented an increase of 23.3 percent compared to 2021.
Hana Securities posted 126 billion won in net profits due to business conditions such as a drop in asset management fees including securities brokerage commissions following a weak stock market and a drop in liquidity.
Net profits of Hana Capital and Hana Card in 2022 came in at 298.3 billion won and 192 billion won, respectively.
Hana Asset Trust logged a net profit of 83.9 billion won, Hana Savings Bank 23.3 billion won and Hana Life Insurance 10.1 billion won.
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