KB Securities recorded a net profit of 181.7 billion won for the first quarter (January to March) on a consolidation basis. This marks an 8% decrease compared to the same period last year.
On the 24th, KB Securities announced that it achieved operating profit of 224.6 billion won, pre-tax profit of 238.8 billion won, and net profit of 181.7 billion won for the first quarter on a consolidation basis. Compared to the same period last year, operating profit decreased by 11%, and net profit fell by 8%.
The decline in the stock market during the first quarter is believed to have impacted the company's profits and losses related to the securities it holds, as domestic stock trading volume also decreased, resulting in a decline in commission income.
According to KB Securities, the asset management (WM) institutional sector has surpassed 65 trillion won. KB Securities noted that it strengthened customer management by establishing a new pension asset management center organization and that the balance of pension assets focused on individual customers has expanded due to improvements to the pension platform and enhanced marketing efforts.
The performance of the investment banking (IB) institutional sector is also commendable. The debt capital markets (DCM) segment ranks first in the industry, while the equity capital markets (ECM) segment completed a total of 11 preliminary examination applications for listings. This year, it has completed seven initial public offerings (IPOs), including HD Hyundai Marine Solution. In the fourth quarter, it plans to proceed with the listings of Balhae Infrastructure Debt Investment Company and MNC Solutions.
KB Securities stated, "In preparation for an interest rate cut, we established a proactive position and purchased U.S. treasury bonds to expand bond revenue," adding that it achieved stable performance through flow business revenue expansion based on interest rate structuring and FX retail transactions, as well as a market-neutral strategy.