Finance

Four major financial groups\' net profit tops 11 trillion won, competition shifts from banks to capital markets

South Korea’s four major financial holding groups posted combined first-half net profit of 11.34 trillion won, up 9.8 percent from a year earlier, helped by steady interest income and rising fee income from capital-market businesses such as securities, wealth management and investment banking. As non-bank earnings contributions expanded, the competitive focus among groups increasingly shifted to capital markets. In banking, Shinhan Bank led in net profit, while Woori Bank was the only one to decline.

Finance

Financial holding brokerages post about 1.41 trillion won Q2 net profit on brokerage boom

Brokerages under South Korean financial holding groups posted a combined net profit of about 1.41 trillion won in the second quarter, helped by increased stock market turnover, the investment industry said on Thursday. NH Investment & Securities and KB Securities set quarterly record results, while Shinhan Investment and Hana Securities extended growth on higher brokerage income. Woori Investment & Securities posted lower quarterly profit due to higher bad-debt costs.