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Finance

Shinhan Bank steps up comprehensive advisory for succession market, from corporate sales to asset management

Shinhan Bank is strengthening M&A and business succession advisory services for small and mid-sized companies, aiming to meet rising succession demand driven by ageing and lack of successors. The bank said it signed a memorandum of understanding with Samjong KPMG at its Shinhan PWM Yeouido Center in Seoul. Shinhan Bank plans to identify clients with succession and M&A needs and link acquisition finance with asset management, while Samjong KPMG will provide valuation and accounting and tax advice.

Finance

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

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.