(Bloomberg) -- Kookmin Bank, South Korea's largest,
said second-quarter profit fell 70 percent because of back taxes
related to the 2003 takeover of its credit-card unit.
Net income fell to 236.3 billion won ($256 million) from 777
billion won a year earlier, the Seoul-based company said in
regulatory filing today. Kookmin was expected to earn 672 billion
won, according to the average of six analyst estimates
compiled by Bloomberg.
Read more at Bloomberg Emerging Markets News
said second-quarter profit fell 70 percent because of back taxes
related to the 2003 takeover of its credit-card unit.
Net income fell to 236.3 billion won ($256 million) from 777
billion won a year earlier, the Seoul-based company said in
regulatory filing today. Kookmin was expected to earn 672 billion
won, according to the average of six analyst estimates
compiled by Bloomberg.
Read more at Bloomberg Emerging Markets News
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