Mirae Asset Securities posted an operating profit of nearly 2.5 trillion won in the second quarter this year, helped by improved results in brokerage, wealth management (WM) and overseas subsidiaries.

Mirae Asset Securities said in a filing on Tuesday it posted second-quarter consolidated revenue of 21.63 trillion won, operating profit of 2.49 trillion won and net profit of 1.91 trillion won.

Revenue rose 181.1 percent from a year earlier. Operating profit and net profit rose 397.5 percent and 369.4 percent, respectively. From the previous quarter, revenue rose 49.9 percent, operating profit rose 81.1 percent and net profit rose 90.2 percent.

On a cumulative first-half basis, revenue rose 162.3 percent from a year earlier to 36.06 trillion won. Operating profit rose 356.5 percent to 3.86 trillion won, and net profit rose 337.8 percent to 2.91 trillion won.

Brokerage and WM led the earnings growth. Second-quarter brokerage commission income rose 36 percent from the previous quarter to 625.6 billion won. Fee income from financial product sales rose to 131.0 billion won, surpassing 112.5 billion won in the first quarter to mark a record high.

Total client assets at home and abroad rose 124 trillion won from the previous quarter to 784 trillion won. Pension assets also exceeded 80 trillion won as of end-June, and the growth rate of accumulated retirement pension reserves over the past year topped 60 percent.

Overseas subsidiaries also improved sharply. Second-quarter pretax profit at overseas subsidiaries came to about 609.1 billion won. Profit shares by region were 37 percent for the United States, 35 percent for Hong Kong, 18 percent for London and 5 percent for India.

Overseas subsidiaries' contribution to consolidated pretax profit was about 24 percent, up 6 percentage points from the previous quarter. The company explained that higher recurring income and valuation gains on investment assets affected the improvement in results.

Trading and other financial gains and losses rose 107 percent from the previous quarter to 836.9 billion won. IB fee income also rose 65 percent to 42.8 billion won, improving results across major business divisions.

Mirae Asset Securities is also expanding its business areas centered on its global investment platform. In June, it launched MAPS, a global investment platform covering traditional assets and digital assets, in Hong Kong, and it plans to expand the service to the United States and Singapore, among other markets.

It is also pursuing an inbound distribution platform to allow global investors to invest directly in South Korean stocks and Mirae Asset exchange-traded funds (ETFs).

In digital finance, it is preparing related infrastructure in line with the institutionalisation of tokenised securities (STO). Based on cooperation with Digital X (formerly Korbit), it plans to expand its business into real-world asset (RWA) tokenisation and tokenised securities, among other areas.

A Mirae Asset Securities official said, "It is Mirae Asset Securities' unwavering principle to grow with clients' assets," and added, "We will develop into a global investment platform that contributes to client trust and successful asset management."