[EQUITIES] Mirae Asset Daewoo forecasts W518b net profit in Q3

[THE INVESTOR] Mirae Asset Securities on July 22 forecast that KB Financial will post a net profit of 517.8 billion won (US$453.02 million) in the third quarter to continue on a path of positive earnings.

It cited improving interest rate profit margins and narrowing deficit in non-interest rate profit as reasons behind the quarterly gains.

In the second quarter, KB Financial posted 580.4 billion won of net profit. The figure reflects a 70.9 percent increase on-year, and is also 30 percent higher than the market consensus.

By Kim Ji-hyun (jemmie@heraldcorp.com)