Hanyang Securities Q1 Net Profit Up 116%... "IB and Asset Management Worked"

[Asia Economy Reporter Minji Lee] Hanyang Securities posted excellent results in the first quarter by maintaining strong growth in corporate finance (IB) and asset management sectors despite the COVID-19 pandemic.

According to the Financial Supervisory Service on the 14th, Hanyang Securities' net profit in the first quarter of this year was 9.1 billion KRW, a 116% increase compared to the same period last year. The company's operating revenue recorded 136.9 billion KRW, up 166% during the same period, and operating profit increased by 135% to 13.5 billion KRW. This is the highest performance since 1999 for the first quarter.

Looking at operating revenue by sector, commission sales reached 3 billion KRW, a 30% increase from a year ago. Proprietary trading (asset management) and corporate finance sectors recorded 71.5 billion KRW and 14.6 billion KRW, respectively, showing explosive growth rates of 195% and 261%.

A company official explained, "In the IB sector, income related to real estate PF increased and income from structured finance grew significantly," adding, "The asset management sector contributed to revenue growth with balanced performance in stocks, bonds, and derivatives."

Meanwhile, Hanyang Securities' selling and administrative expenses increased by about 85% compared to last year due to recruitment of talented personnel following organizational expansion. The number of employees in the first quarter increased by approximately 21% compared to last year.

This content was produced with the assistance of AI translation services.