[Special Stock] NH Investment & Securities Hits 52-Week Low Amid Q1 Earnings Slump

[Asia Economy Reporter Myunghwan Lee] NH Investment & Securities is showing weakness in the afternoon session on the 22nd. This is attributed to the first-quarter earnings announced the previous day falling short of expectations.

As of 3 PM on the day, NH Investment & Securities is trading at 10,900 KRW, down 1.36% (150 KRW) from the previous trading day. During the session, the price dropped to as low as 10,850 KRW, setting a new 52-week low.

The previous day, NH Investment & Securities disclosed that its consolidated operating profit for the first quarter of this year was preliminarily estimated at 161.8 billion KRW, a 56.8% decrease compared to the same period last year. Compared to the previous quarter, this represents a 30.8% decline. Net profit also fell by 60.3% to 102.3 billion KRW.

Revenue increased slightly by 0.5% year-on-year to 3.9607 trillion KRW.

Despite domestic stock market weakness, the overseas stock division maintained an upward earnings trend alongside asset growth, and fund inflows primarily drove fee income, leading the wealth management (WM) division’s performance. The company also explained that the corporate finance (IB) division delivered solid results by executing acquisition financing and project financing (PF) deals.

NH Investment & Securities stated, "Although operating profit declined due to the deterioration of domestic and international investment environments caused by geopolitical issues and interest rate hikes, we achieved net profit exceeding 100 billion KRW for five consecutive quarters despite the challenging financial market conditions."

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