Korea Investment & Securities 1Q Net Profit 350.6 Billion KRW... Record High

[Asia Economy Reporter Junho Hwang] Korea Investment & Securities achieved the highest-ever net profit in the first quarter.

Korea Investment & Securities, a subsidiary of Korea Financial Group, announced on the 17th that it recorded a net profit of 350.6 billion KRW in the first quarter of this year. This is the highest quarterly performance on record. The previous quarterly record was 295.8 billion KRW achieved in the second quarter of last year. The first quarter revenue was 4.6664 trillion KRW, and operating profit was 423.6 billion KRW.

Korea Investment & Securities stated that the performance was driven by the brokerage and asset management divisions. Revenue increased in the brokerage division through strengthening non-face-to-face channel services and revitalizing overseas stock trading, and the asset management division's results were boosted by new sales of high-fee mutual funds and equity-type wrap accounts.

A Korea Investment & Securities official said, "Despite the uncertain market conditions caused by the prolonged COVID-19 pandemic, we were able to achieve excellent results through synergy creation among business divisions, securing management efficiency, and advanced risk management," adding, "Based on our existing business portfolio, we will secure overseas markets and digital finance as new growth engines and continue sustainable growth."

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