Hanyang Securities saw double-digit growth in first-half net profit from a year earlier, boosted by strong trading and retail institutional sectors.
According to the Financial Supervisory Service's electronic disclosure system on the 14th, Hanyang Securities' net profit for the first half of this year was 38.3 billion won, up 10.4% from the same period last year. Operating profit was 51.5 billion won, up 9.1%.
In particular, second-quarter earnings improved sharply. Second-quarter net profit was 19.7 billion won, up 44.9% from a year earlier, and operating profit was 25.5 billion won, up 43.3%.
By business institutional sector, growth in trading and retail institutional sectors stood out on the back of a bullish stock market. The trading institutional sector improved its results thanks to the market's rise and the expansion of liquidity provider (LP) work for exchange-traded funds (ETF).
The retail institutional sector also benefited from increased trading value and expanded margin lending. First-half brokerage commissions were 16.1 billion won, up 297.3% from a year earlier. The first-half net profit of the brokerage business institutional sector was 3.7 billion won, swinging to a profit from a net loss of 700 million won in the same period last year.
Margin lending also expanded sharply. As of the end of June, the balance of margin loans for stock transactions was 5.87 billion won, and securities-backed loans were 16.22 billion won, bringing the combined balance of the two items to 22.1 billion won. This was a sharp increase from 2.08 billion won at the end of last year.