Shinhan Investment & Securities posted a first-quarter net profit of 288.4 billion won this year.
According to the financial investment industry on the 23rd, Shinhan Investment & Securities' first-quarter operating revenue was 701.5 billion won and operating profit was 386.4 billion won. These figures rose 90.2% and 228.5%, respectively, from a year earlier. Net profit also increased 167.4% in the same period.
The improvement was largely driven by higher transaction value on the back of a strong stock market. In addition to expanded stock brokerage fee revenue, gains from product operations also improved, cited as key drivers.
Growth was also notable compared with the previous quarter. Operating revenue rose 93.4%, operating profit 1,394.6%, and net profit 1,195.8%.
A Shinhan Financial Group official said it was "the result of solid performance across all business lines, including stock brokerage fees, investment banking (IB), and financial product fees."