Kiwoom Securities provisionally announced on the 30th that it recorded consolidated sales of 4.5057 trillion won and net profit of 310.1 billion won for the second quarter of this year (April-June). Sales nearly doubled compared to the same period last year, and net profit during the same period also increased by 33.6%.
Specifically, the revenue from brokerage transaction fees increased. This was due to the increase in domestic stock transactions and the normalization of overseas stock commission rates. Kiwoom Securities' stock commission revenue for the second quarter was 162.4 billion won, 26.5% more than in the same period last year.
Revenue from investment banking (IB) fees also rose. IB fee revenue for the second quarter was 78.3 billion won, a 38.1% increase compared to the same period last year. Kiwoom Securities explained that revenue from structured and project financing (PF) increased by more than 23 billion won to 67.6 billion won in just one quarter. During the same period, the contingency liability ratio compared to equity decreased by 0.5 percentage points to 59.4%.
Fueled by a favorable market environment, profits from sales and trading and the institutional sector were significant. Kiwoom Securities' revenue from operations in the second quarter was 111.5 billion won, more than three times that of the same period last year. During the same period, client-managed assets increased to nearly 50 trillion won, totaling 16.9 trillion won.