Woori Investment & Securities said on the 29th that it posted a cumulative net profit of 21.2 billion won through the third quarter of this year. That was up 123% (11.7 billion won) from the same period last year. Over the same period, non-interest income rose 56% (18.5 billion won) to 51.7 billion won, and fee income increased 214% (16.6 billion won) to 24.4 billion won.
Woori Investment & Securities obtained final authorization for investment trading business in mid-March this year and launched a mobile trading system (MTS), ramping up its securities operations.
Cumulative selling, general and administrative expenses through the third quarter were 100.9 billion won, up 103% (51.2 billion won) from a year earlier. Woori Investment & Securities said the increase was due to expanding hiring for securities-related personnel and boosting IT investment for MTS and overseas stock services.
Woori Investment & Securities said its influence in the market is growing in the investment banking (IB) segment, such as taking the lead manager role in the debt capital market (DCM) from the third quarter, and that the retail business is also steadily adding new customers.
A Woori Investment & Securities official said, "We are focusing on laying the groundwork to become a full-service securities firm and securing competitiveness," and added, "We will continue to strengthen our business capabilities to play a pivotal role in venture capital investment under Woori Financial Group's "future co-growth project.""