Korea Investment & Securities Co. posted a net profit of 784.7 billion won in the first quarter this year.
On the 14th, according to the financial investment industry, Korea Investment & Securities Co.'s first-quarter revenue on a consolidation basis was 11.4524 trillion won and operating profit was 959.9 billion won. That was up 130.3% and 85.0%, respectively, from a year earlier. Net profit also rose 75.1% in the same period.
The specific revenue mix was 39.1% from trading, 33.3% from brokerage, 18.6% from investment banking (IB), and 9.0% from wealth management (WM). A Korea Investment & Securities Co. official said the company "built a revenue structure that is not skewed to a particular segment," adding it is "growing evenly through synergies across segments."
Amid a strong stock market, brokerage-related revenue increased 55% from the previous quarter. The wealth management institutional sector saw sales commissions surge 71.6% as sales of financial products such as bonds, commercial paper, and beneficiary certificates continued. Korea Investment & Securities Co.'s retail client financial product balance expanded from 85.1 trillion won at the end of last year to 94.5 trillion won recently.
The investment banking institutional sector ranked first in fee revenue in the initial public offering (IPO) and equity capital markets (ECM) segments, posting results up 14.7% from a year earlier. The trading and sales and trading institutional sector contributed to strong results based on trading capabilities that responded to market variables such as interest rates, exchange rates, equities, and bonds.
As of the end of the first quarter, Korea Investment & Securities Co.'s standalone equity capital was 12.7085 trillion won, the largest in the domestic securities industry.
Korea Investment & Securities Co. is seen as taking the lead in supplying venture capital by steadily expanding capital and stably managing 21.6 trillion won in commercial paper and 2.6 trillion won in investment management account (IMA) funds.