Securities firms 1quarterly net profit 4trillion 3,000hundred million, the background to the surge in individual trading
Domestic securities firms recorded 1quarterly net profit of 4trillion 3,000hundred million won. Surging stock trading value increased brokerage commissions and asset-management revenue, significantly improving results compared with the previous quarter.
Domestic securities firms recorded 1net profit of 4trillion 3,000hundred million won for the quarter. The result came as surging stock trading value increased brokerage commissions and asset-management revenue.
This quarter's results were the highest ever on a quarterly basis. The industry explained that active trading by individual investors drove up performance.
As trading value increased amid a buoyant stock market, brokerage commission revenue rose sharply. Fees related to wealth management also performed well.
Some reports said that this 1quarter's net profit reached about half of last year's full-year net profit. The common reason was the concentration of brokerage-based revenue over the three-month period.
In separate company news, Semitec announced that its 1quarterly revenue was 127hundred million won, up 130% year on year. The company cited expanded product sales as the reason for the increase in revenue.
Differences emerged in the composition of revenue among securities firms. Some were centered on brokerage, while others had a higher contribution from investment banking and advisory-related revenue.
The financial investment industry disclosed its 1quarterly results one after another. A point to watch in next quarter's results is how trading and fee trends change.