Yuanta Securities Korea headquarters [Yuanta Securities Korea]
Yuanta Securities Korea headquarters [Yuanta Securities Korea]

Yuanta Securities Korea's net profit for the first half of this year nearly quadrupled from a year earlier, buoyed by rising trading volumes on the domestic stock market and stronger financial product sales. Both its brokerage and financial products divisions posted record first-half earnings, driving the firm's overall performance improvement.

The company announced Friday that its consolidated net profit for the period reached 129.8 billion won ($91.7 million) in the first half of this year, up 298 percent from the same period last year. Operating profit rose 301 percent over the same period to 159.3 billion won.

Higher domestic stock market trading volumes and a favorable market environment drove the earnings improvement. Profit from the brokerage division surged 266 percent from a year earlier, setting a record for any first-half period. Both the retail and wholesale business units improved their profit-generating capacity.

The financial products division also posted a record first-half performance. Earnings from financial products rose 232 percent from last year, with overall fund sales climbing 97 percent — led particularly by equity funds. The balance of major wrap account products, excluding money market wrap-type comprehensive asset management accounts, exceeded 3 trillion won.

The investment banking division closed more than five deals in the first half, centered on small- and mid-sized acquisition financing, and also generated results in the debt capital markets segment, allowing the underwriting business to swing to a profit from a loss in the same period last year. The asset management division posted a slight decline in earnings compared with a year earlier.


th5@heraldcorp.com