Seoul:<Text>

Hana Financial Group on Friday reported a record high net profit in the first quarter of the year, driven by a rise in interest incomes. The banking group said it racked up a net profit of 1.21 trillion won (US$816 million) in the January-March period, up 7.3 percent from a year earlier.

According to Yonhap News Agency, the earnings exceeded market expectations. The average estimate of net profit by analysts stood at 1.12 trillion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. Operating income rose 11.1 percent on-year to 1.65 trillion won in the first quarter, while revenue surged 71.4 percent to 29 trillion won over the cited period.

Hana Financial Group's net interest income rose 10.2 percent on-year to 2.5 trillion won. However, its non-interest income saw a decline, falling 11.9 percent over the cited period to 584 billion won. Its flagship, Hana Bank, reaped a net profit of 1.1 trillion wo n in the first quarter, marking an increase of 11.2 percent from a year earlier.