Samsung Securities achieved record results in the second quarter of this year, driven by growth in its asset management (WM) and investment banking (IB) divisions.
According to Samsung Securities, the consolidated operating profit for the second quarter reached 675.8 billion won, marking a 10.9% increase from the previous quarter and a 119.0% rise compared to the same period last year. Pre-tax profit was 669.7 billion won, up 8.8% from the previous quarter and 114.1% year-on-year, while net profit stood at 488.2 billion won, reflecting increases of 8.3% and 108.1%, respectively.
The company attributed its performance improvement to the growth in its asset management (WM) sector. Retail customer assets surged to 652.4 trillion won, a 31.6% increase from the previous quarter, while the number of high-net-worth (HNW) clients rose by 27.5% to 572,000.
The asset management business also showed strong performance, with net commission income from wrap accounts increasing by 52.1% to 49.5 billion won, and retirement pension deposits growing by 20.7% to 28.1 trillion won.
In the investment banking sector, structured finance was a key driver of growth. The IB division reported a 26.1% increase in performance, reaching 90.6 billion won, primarily due to structured finance revenue of 79.4 billion won.
Samsung Securities successfully completed the IPOs of Chabi and JersTech, and also executed a financing deal for the acquisition of Hugel.
* This article has been translated by AI.
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