Hana Financial Investment Reports Record High First Half Net Profit of 172.5 Billion Won Despite COVID-19

[Asia Economy Reporter Eunmo Koo] Hana Financial Investment recorded a net profit of 126.7 billion KRW in the second quarter and 172.5 billion KRW in the first half of this year, achieving the highest quarterly and half-year results despite the impact of the novel coronavirus (COVID-19).

On the 23rd, Hana Financial Investment announced through a disclosure that its consolidated net profit for the second quarter was tentatively estimated at 126.07 billion KRW, a 39.25% increase compared to the same period last year. On a cumulative basis for the first half, it rose 12.97% to 172.423 billion KRW. The second quarter revenue grew 35.38% to 2.569 trillion KRW, and operating profit also increased 38.81% to 147.022 billion KRW.

Hana Financial Investment explained, "By sector, the investment banking (IB) division showed remarkable growth by continuing large domestic and international alternative investment deals, expanding ultra-large IB-based businesses, and strengthening collaboration within the group. Additionally, brokerage revenue improved due to a surge in trading volume caused by increased stock market volatility, and overseas division profits continued to expand." Furthermore, they added, "The wealth management (WM) division also showed significant performance growth through strengthened collaboration by expanding complex branches."

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