Kiwoom Securities' first-quarter net profit surged twofold, helped by strong domestic stock markets.
On the 30th, according to the financial investment industry, Kiwoom Securities posted consolidation operating profit of 621.2 billion won and net profit of 477.4 billion won in the first quarter of this year. Those figures were up 90.9% and 102.6%, respectively, from a year earlier.
By sector, brokerage commission revenue jumped 120.8% from a year earlier to 311.5 billion won on the back of a strong domestic stock market. S&T and trading gains also came to 155.7 billion won, up 58.9% from a year earlier.
The investment banking (IB) sector also contributed to improved results. Kiwoom Securities led "revenue" growth by underwriting paid-in capital increases for Amicogen and Laon People and arranging corporate bond (DCM) deals for POSCO FUTURE M, LS Cable & System, SK, Shinsegae, KAI, and Hanjin Logistics.