DAOL Investment & Securities reported on the 3rd that it recorded consolidated sales of 1.4429 trillion won and a net loss of 45.4 billion won last year, according to preliminary figures. Sales decreased by 4.34% compared to 2023, and the deficit nearly tripled.
DAOL Investment & Securities explained that the scale of losses increased as the evaluation criteria for real estate project financing (PF) strengthened. The company added 45.6 billion won to its provisions for real estate PF bad debts last year.
DAOL Investment & Securities noted that the exposure from bridge loans (funds borrowed for a short period to purchase land at the beginning of a PF project) has decreased, significantly reducing the risk of defaults.
A representative from DAOL Investment & Securities said, "This year, the recovery of real estate PF assets is expected to progress in earnest, and bond trading is anticipated to become more active depending on interest rate fluctuations," adding, "The expectations for performance improvement are high."