Seoul: BNK Financial Group announced on Tuesday that its net income for the second quarter was 205.7 billion won (US$140.5 million), representing a 34.6 percent decrease from the same period last year.

According to Yonhap News Agency, the group's operating profit for the April-June quarter was 235.7 billion won, marking a 7.9 percent reduction compared to the previous year. Despite the decline in profits, sales for the financial conglomerate, which includes regional banks like BNK Busan and BNK Kyongnam Bank, increased by 38.3 percent, reaching 3.59 trillion won.

The reported earnings missed market expectations, as analysts had anticipated a net profit of 239.6 billion won on average, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.