Seoul: JB Financial Group announced a 5.2 percent decrease in its first-quarter net profit, amounting to 166.9 billion won (US$116.4 million), compared to the previous year.

According to Yonhap News Agency, the company's operating profit for the January-March period also saw a decline, falling 4.6 percent year-on-year to 217.5 billion won. Additionally, revenue experienced a decrease of 1.5 percent, totaling 1.12 trillion won.

Despite these declines, JB Financial Group's earnings surpassed market expectations. Analysts had estimated a net profit of 164.9 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.