Kiwoom Securities reported strong second-quarter results, exceeding market expectations, driven by an increase in trading volume.
On July 30, Kiwoom Securities announced that its consolidated operating profit for the second quarter reached 788.9 billion won, a 93.2% increase compared to the same period last year. Revenue for the quarter was 16.73 trillion won, up 256.7%, while net profit rose 119.4% to 680.6 billion won.
The improvement in performance was primarily attributed to a surge in brokerage revenue due to increased stock trading volume. Brokerage commission income for the second quarter was 451.9 billion won, a 178.3% increase from 162.4 billion won in the same period last year. Kiwoom Securities' average daily trading volume surged to 36.3 trillion won, a 236.1% increase from 10.8 trillion won a year earlier.
The Sales and Trading (S&T) division also performed well, with operating profit and dividends totaling 249.2 billion won, a 104.9% increase year-on-year. Assets under management (AUM) grew to 26.1 trillion won, a 54.4% increase, reflecting the positive market conditions and growth in managed assets.
The Investment Banking (IB) division maintained a relatively stable growth trajectory. IB commission income for the second quarter was 83.3 billion won, a 6.4% increase from the previous year. In the equity capital markets (ECM), the company successfully managed a capital increase for Innospace in June, while in the debt capital markets (DCM), it facilitated bond issuances for companies such as Lotte Chemical, HL Manpo, Shinsegae, Korean Air, Hyundai Department Store, and CJ Freshway. In the acquisition finance sector, it arranged refinancing for Seolbing, BNK Korea, and Eurobake.
Kiwoom Securities stated that all business segments, including brokerage, asset management, and investment banking, contributed to the overall growth in performance.
Separately, on a standalone basis, the second-quarter operating profit was 691.0 billion won, an 85.0% increase year-on-year, while net profit was 678.3 billion won, up 101.4%. Total equity reached 6.89 trillion won, a 26.7% increase from the same period last year.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.