Daishin Securities Reports 2Q Operating Profit of 94.7 Billion KRW, Down 31.5% YoY

Daishin Securities announced on the 11th that its operating profit for the second quarter was 94.7 billion KRW, a 31.5% decrease compared to the same period last year.

According to Daishin Securities on the 14th, the net profit for the second quarter was 70.8 billion KRW, down 26.7% from the same period last year. However, considering that a one-time gain of 104.4 billion KRW occurred in the second quarter of last year due to the sale of Nine One Hannam and idle land, it explained that there was actually a significant improvement in performance. The net profit on a separate basis turned positive at 60 billion KRW.

Additionally, Daishin Securities emphasized that the allowance for doubtful accounts related to Contract for Difference (CFD) and real estate Project Financing (PF) in the second quarter was 'zero (0)'. This contrasts with many securities firms whose performance deteriorated due to setting aside provisions related to CFDs and real estate PF.

A Daishin Securities official explained, "Brokerage revenue increased due to the rise in average daily trading volume, and wealth management (WM) division revenue grew thanks to strong sales of financial products such as bonds and funds," adding, "Trading revenue also showed favorable results due to flexible responses to interest rate hikes and portfolio optimization."

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