Woori Investment Securities' net profit for the first three quarters rose 27.3 percent from a year earlier. Net operating revenue for the period also increased from the same period a year earlier.

Woori Financial Group said on Oct. 23 that Woori Investment Securities posted third-quarter net profit of 3 billion won, down 72.7 percent from 11 billion won in the previous quarter.

Profit before corporate income tax was 4 billion won, down 69.2 percent from 13 billion won in the previous quarter.

Third-quarter net operating revenue was 57 billion won, down 25.0 percent from 76 billion won in the previous quarter. Interest income rose 17.6 percent to 40 billion won from 34 billion won, but non-interest income fell 58.1 percent to 18 billion won from 43 billion won, dragging down overall revenue.

Credit loss expenses were 13 billion won, down 23.5 percent from 17 billion won in the previous quarter. Selling and administrative expenses were 42 billion won, down 8.7 percent from 46 billion won.

Quarterly results slowed, but year-to-date figures continued to grow.

Net operating revenue for January to September was 203 billion won, up 46.0 percent from 139 billion won a year earlier.

Interest income for the period rose 17.2 percent year-on-year to 102 billion won, and non-interest income jumped 94.2 percent to 101 billion won. The sharp increase in non-interest income in particular led to improved year-to-date results.

Profit before corporate income tax was 33 billion won, up 73.7 percent from 19 billion won a year earlier. Net profit was 28 billion won, up 27.3 percent from 22 billion won.

Cost burdens also increased. Credit loss expenses for January to September rose 105.3 percent to 39 billion won from 19 billion won a year earlier, and selling and administrative expenses increased 31.7 percent to 133 billion won from 101 billion won.

The retail customer base expanded. The number of retail customers rose 14.9 percent to 800,000 in the third quarter from 696,000 in the third quarter of last year.

Woori Investment Securities said third-quarter results slowed from the previous quarter, but both interest income and non-interest income increased on a cumulative basis, sustaining growth in scale.