Hanwha Investment & Securities said on the 13th that its consolidated operating profit for the second quarter was 37.7 billion won, returning to the black from a 21.6 billion won operating loss during the same period last year.
Consolidated sales for the second quarter increased 84% compared to the same period last year, reaching 88.96 billion won, up from 48.42 billion won. Net profit switched to the black at 29.3 billion won, from a net loss of 19.3 billion won during the same period last year.
Operating profit for the first half of this year surged about 849 million won, approximately 20 times higher than the 43 million won during the same period last year. Net profit for the first half increased 16% to 66.5 billion won compared to 57.3 billion won in the same period last year, while sales rose 50% to 1.7266 trillion won from 1.1504 trillion won.
Hanwha Investment & Securities explained, "The asset management (WM) and trading sectors maintained solid performance thanks to the positive trends in the stock market, and the corporate finance (IB) sector saw improved performance due to reduced provision burdens."
It added, "We will do our best to pursue sustainable growth through digital innovation and global business expansion, providing differentiated financial solutions to customers."
Additionally, Hanwha Investment & Securities recently completed the acquisition of Ciptadana Securities in Indonesia and noted, "We are in the process of acquiring Ciptadana Asset Management, aiming for completion by March next year," stating that "this will expand our new growth engines in the Southeast Asian financial market."