Samsung Securities Reports Record Quarterly Net Profit of 289 Billion KRW in Q1

[Asia Economy Reporter Ji-hwan Park] Samsung Securities posted its highest quarterly earnings ever.

Samsung Securities announced on the 7th that its pre-tax profit for the first quarter of this year reached 402.7 billion KRW, a 1708% increase compared to the same period last year. Net profit for the same period surged 1776% to 289 billion KRW. Both pre-tax profit and net profit set record highs on a quarterly basis.

The retail division showed favorable performance thanks to a supportive market environment and timely business activities. Net brokerage commissions reached 240.8 billion KRW, setting a new record high. Domestic stocks increased by 92% and overseas stocks by 148% compared to the same period last year.

The number of individual customers with assets over 100 million KRW surpassed 200,000. Retail customer deposits saw a net inflow of 10 trillion KRW in the first quarter alone, reaching 280 trillion KRW. The headquarters sales division also contributed to the overall performance improvement by delivering strong results across all sectors.

A Samsung Securities official explained, "The Investment Banking (IB) division grew 55% year-on-year, driven by rapid growth in the Equity Capital Market (ECM) and structured finance," adding, "The asset management division also achieved solid results by proactively responding to increased interest rate volatility."

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