Korea Capital Reports Q3 Net Profit of 19.6 Billion KRW, Up 26% QoQ
Korea Capital, a specialized financial company, is accelerating its performance growth and strengthening safety despite the unstable business conditions in the financial market.
Korea Capital announced on the 15th that it recorded an operating profit of 24 billion KRW and a net profit of 19.6 billion KRW in the third quarter of this year. These figures represent increases of 3% and 9%, respectively, compared to the same period last year.
On a cumulative basis for the third quarter, operating profit was 64.6 billion KRW and net profit was 50.8 billion KRW, showing a slight decrease compared to the previous year. However, third-quarter operating profit and net profit increased by 21% and 26%, respectively, compared to the previous quarter, indicating a recovery trend.
A company representative explained, "Non-interest income such as fees in the corporate finance and investment finance sectors increased about threefold, driving the third-quarter performance." They added, "Although the operating environment is challenging due to the base rate hike, expanded real estate risks, deteriorating funding conditions, and strengthened regulations, we are fully committed to portfolio diversification and risk management."
The leverage ratio was maintained at a low level of 7.7 times. Financial stability was further enhanced by the issuance of 100 billion KRW worth of perpetual bonds, recognized as capital, in October.
With the increase in the payment guarantee limit by the Military Mutual Aid Association, Korea Capital has secured growth momentum that can accelerate business expansion. Continuous performance growth for Korea Capital is anticipated.
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A company representative stated, "Although the entire industry is facing difficulties due to financial market uncertainties, Korea Capital is strengthening its capital base and exploring ways to enter new markets." They added, "We will expand our asset management scope from corporate finance and retail finance to auto finance and new technology finance, turning crises into opportunities."
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