Korea Investment & Securities announced on 4th that it recorded a net profit of 15.9 billion won for the second quarter (April to June) of this year. It is just three months after acquiring an operating license for investment trading at the end of March and launching a mobile trading system (MTS) to kick off its full-scale operations.
Korea Investment & Securities' non-interest income for the second quarter also increased by 73% to 25.1 billion won compared to the first quarter (January to March). This was thanks to achievements primarily in the institutional sectors of Debt Capital Market (DCM), alternative investment, and sales & trading (S&T). Notably, the investment banking (IB) sector entered the upper ranks of league tables, ranking 6th in domestic bond underwriting, 4th in asset-backed securities (ABS) underwriting, and 14th overall.
Nam Ki-cheon, the CEO of Korea Investment & Securities, said at the 1st anniversary ceremony on the 1st, "Everyone has come together with one heart and one mind to quickly establish a comprehensive securities company system, achieving clear results even in a difficult external environment."
Nam added, "With the incorporation of Tongyang Life Insurance and ABL Life Insurance as of July 1, the group has established itself as a fully-fledged comprehensive financial group," and noted, "Korea Investment & Securities will drive the group's commercial banking and investment banking (CIB) performance and become a central pillar in enhancing the group's non-interest income, such as pensions and asset management."
He continued, saying, "We will make AX (Artificial Intelligence transition) the driving force for creating business models of future securities companies," and firmly believed, "All employees of Korea Investment & Securities will become 'One Team' and will play a key role in leading future changes."