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Brokerages fly on stock market boom as earnings engine for financial holding groups in Q1

Brokerage units of five major South Korean financial holding groups posted record-level first-quarter results, helped by a rise in domestic stock trading value. Higher trading boosted brokerage commission income, while product management gains and wealth management revenue recovered, supporting group earnings. NH Investment & Securities posted the biggest net profit. KB Securities and Hana Securities reported broad-based improvement, while Shinhan Investment showed strong brokerage and product gains but weaker investment banking.

Finance

Woori Investment Securities posts 70.1 billion won Q1 net operating revenue, led by non-interest income growth

Woori Investment Securities said on Thursday its first-quarter net operating revenue rose 75.0 percent from a year earlier to 70.1 billion won, driven by growth in non-interest income. Non-interest income increased 173.3 percent to 41.4 billion won, reversing the balance with interest income. Investment banking fees and securities-related gains rose sharply. Client custody assets increased to 20.3 trillion won, and the board approved a 1 trillion won rights offering.

Finance

Hana Securities Q1 operating profit rises 47.9 percent to 141.6 billion won

Hana Securities said on April 24 it posted a consolidated first-quarter operating profit of 141.6 billion won and net profit of 103.3 billion won. Operating profit rose 47.9 percent from a year earlier and net profit increased 37.1 percent. First-quarter revenue was 8.67 trillion won, up about 138 percent from a year earlier. The company cited timely responses by business divisions in a volatile market environment.