Shinhan Investment Securities' full-year net income last year rose 113% from the previous year.
Shinhan Financial Group said in a filing on Feb. 5 that Shinhan Investment Securities' net income last year came to 381.6 billion won. Net income increased 113% from the previous year.
Full-year operating profit rose 73.3% from the previous year to 488.5 billion won, and operating revenue increased 17.4% from the previous year to 1.6333 trillion won.
It is analyzed that stock brokerage commissions increased on higher trading value following a bullish stock market, and that investment banking (IB) fees and product trading gains and losses improved.
However, regarding the decline in fourth-quarter results last year, an official at Shinhan Financial Group said, "While domestic and overseas stock brokerage commission revenue improved, results decreased due to a drop in valuation gains on marketable securities following a rise in market interest rates." Net income in the fourth quarter last year was 22.3 billion won, down 77.9% from the previous quarter.