Shinhan Investment Corp. reported a net profit of 107.9 billion won for the first quarter of this year on the 25th. This is a 42.5% increase compared to the same period last year.
On the same day, Shinhan Financial Group announced that Shinhan Investment Corp.'s revenue for the first quarter of this year increased by 16.8% year-on-year to 369.8 billion won, while operating profit rose by 36.9% to 117.6 billion won compared to last year.
Overall commission revenue recorded 204.3 billion won, up 7.0% from the previous year, particularly driven by a 39.4% increase in corporations investment banking revenue to 59.6 billion won. Trust commission revenue decreased by 9.6% to 93.0 billion won, while financial product revenue fell by 6.2% to 32.1 billion won. The proprietary trading sector achieved a significant increase of 61.7%, recording 187.4 billion won.
Shinhan Financial noted, "Shinhan Investment Corp. saw an increase in operating revenue as profits from the proprietary trading sector, including bonds, grew compared to last year."
In contrast to the previous quarter's net loss of 3.0 billion won, it has turned to a profit. A company official said, "The profit from the proprietary trading sector, along with the disappearance of valuation losses from overseas alternative assets that occurred in the previous quarter, allowed us to turn to profitability."