KB Securities posted a sharp rise in first-quarter results, helped by strong stock markets.

A regulatory filing on Thursday showed KB Securities' first-quarter consolidated revenue jumped 179.46 percent from a year earlier to 8.35 trillion won. Net profit rose 92.75 percent to 350.2 billion won. Operating profit increased 101.73 percent to 453.1 billion won.

Despite increased volatility in domestic and overseas markets, it achieved broad-based growth across wealth management (WM), investment banking (IB), capital markets and wholesale.

The WM division increased total assets under management (AUM) for retail clients by supplying timely products and providing content in response to gains in South Korean stocks.

The IB division delivered stable results centred on corporate finance despite continued increases in uncertainty risk.

In debt capital markets (DCM), it secured large lead manager mandates through coverage sales and strengthened competitiveness by managing issuance of foreign currency bonds and kimchi bonds.

In equity capital markets (ECM), it completed the listing of Ricense Medical and a rights offering by Daehan Gwangtongshin. In mergers and acquisitions (M&A) and acquisition finance, it strengthened sales capabilities based on 4 refinancing deals for high-quality acquisition finance.

In project finance (PF), it defended profitability through high-quality deals centred on the Seoul metropolitan area and deals guaranteed by the Korea Housing and Urban Guarantee Corporation (HUG), while seeking to diversify earnings into new growth sectors such as data centres.

The capital markets group increased revenue 51 percent from a year earlier.

The wholesale division posted its best-ever quarterly performance by strengthening its global and institutional sales platforms and expanding Flow Biz.