Seoul: KB Financial Group Inc. on Wednesday reported a fourth-quarter net profit of 658.7 billion won (US$455.8 million), marking a 277.9 percent increase from the previous year. This significant rise in net profit highlights a strong fiscal performance for the company during the October-December period.

According to Yonhap News Agency, KB Financial Group's operating profit for the quarter was recorded at 1.03 trillion won, reflecting a substantial increase of 319.3 percent from the same period last year. Additionally, the company's revenue witnessed a growth of 45 percent, reaching 26.45 trillion won.

Despite these impressive figures, the earnings did not meet market expectations. Analysts had estimated an average net profit of 705.6 billion won, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.