Samsung Securities achieved solid results in the third quarter, driven by stable earnings in its Wealth Management (WM) and Investment Banking (IB) divisions, despite a sluggish domestic stock market and declining trading volumes.
According to Samsung Securities, its consolidated net profit for the third quarter reached 352.8 billion won, a 14.1% increase compared to the same period last year. Operating profit rose by 11.7% to 449 billion won, while pre-tax profit grew by 16.5% to 480.4 billion won.
As trading volumes in the domestic stock market decreased, the WM division supported the company's performance. As of the end of the third quarter, retail customer assets amounted to 578.7 trillion won, marking a 47.1% increase year-on-year. The number of high-net-worth (HNW) clients also rose by 52.7% to 524,000.
Revenue from financial product sales continued to grow. On a standalone basis, net commission income from wrap accounts reached 20.1 billion won, up 75.9% from the previous year. Revenue from fund sales also increased by 6.6% to 26.3 billion won, contributing to the WM division's earnings.
The IB division secured revenue primarily through corporate finance transactions. Standalone IB performance for the third quarter was recorded at 81.8 billion won. Within this, the equity capital markets (ECM) segment saw a significant increase of 147.8% to 11.4 billion won, while the mergers and acquisitions (M&A) segment rose by 120.9% to 9.5 billion won.
Notable transactions included the initial public offering (IPO) of Ingenia Therapeutics and financing for the acquisition of Cheongho Nice. Samsung Securities concluded these deals, bolstering its IB division's revenue.
* This article has been translated by AI.
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