Korea Investment & Securities Q2 Operating Profit 159.6 Billion KRW... Up 22.2% YoY
Korea Investment & Securities announced on the 4th that it recorded sales of 5.3345 trillion KRW and an operating profit of 159.6 billion KRW in the second quarter of this year. Compared to the same period last year, sales decreased by 22.8%, but operating profit increased by 22.2%. Compared to the previous quarter, sales and operating profit decreased by 35.2% and 44.4%, respectively.
Net profit for the period was 169 billion KRW, an increase of 128.0% compared to the same period last year, but a decrease of 35.5% compared to the previous quarter.
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A representative from Korea Investment & Securities explained, "Despite the uncertain market conditions, we achieved solid performance across business divisions such as brokerage (BK), asset management (AM), and investment banking (IB)." He added, "Performance declined compared to the previous quarter due to real estate provisions and CFD valuation losses." He further stated, "Going forward, Korea Investment & Securities will focus on risk management and devote great effort to improving profitability."
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