Seoul: KB Financial Group on Thursday reported its first-quarter net income of 1.69 trillion won (US$1.2 billion), marking a 60.9 percent increase from the same period last year.

According to Yonhap News Agency, the company's operating profit for the January-March period was recorded at 2.29 trillion won, reflecting a 2.2 percent decrease compared to the previous year. Meanwhile, sales experienced a decline of 15.4 percent, amounting to 19.74 trillion won.

The reported earnings surpassed market expectations. Analysts had predicted an average net profit of 1.59 trillion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.