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Finance

KB Securities nine-month net profit tops 1 trillion won, up 114.9 percent

KB Securities’ net profit for the first three quarters rose 114.9 percent from a year earlier to 1.07 trillion won, the company said on Wednesday. Operating profit more than doubled to 1.43 trillion won as wealth management and sales and trading improved. Investment banking profit fell. Third-quarter results weakened from the previous quarter, with net profit down 39.5 percent. Retail client assets rose 28.6 percent year on year to 263.9 trillion won.

Finance

KB Financial nine-month net profit nears 5.8 trillion won, up 13.1 percent

KB Financial Group posted nearly 5.8 trillion won in net profit for the first nine months, lifted by higher fee income at its securities and banking units. The group said profit rose 13.1 percent from a year earlier, though third-quarter net profit fell 4.3 percent from the previous quarter as stock trading value declined and higher market rates weighed on non-interest income. Fee income surged year-on-year, while third-quarter non-interest income dropped sharply.

Industry

Samsung Electronics posts Q3 operating profit of 107.4 trillion won, up 783 percent

Samsung Electronics said on Oct. 29 it posted third-quarter consolidated revenue of 195.3 trillion won and operating profit of 107.4 trillion won, up 127 percent and 783 percent from a year earlier. It said it was the first global tech company to exceed 100 trillion won in quarterly operating profit. The semiconductor unit led results, while the device unit posted an operating loss. Net profit was 75.1 trillion won.