Korea Investment sees record high net profit in Q1

Korea Investment & Securities Co. is likely to report a record-high net profit for the first quarter, positioning it as the most profitable among all domestic securities firms according to industry on Tuesday.

The firm’s consolidated operating profit for the first quarter increased by 36.5% year over year to 391.8 billion won ($287 million), thanks to outstanding performances in asset management, investment banking (IB), and brokerage (commission trading).

Despite a 24% decrease in revenue to 6.25 trillion won, improvements in the asset management sector led to overall profitability enhancement.

Net profit rose by 40.7% to 368.7 billion won, marking the highest in the company’s quarterly history.

KIS credited its fixed-rate products suitable for the high-interest rate environment, such as bonds and promissory notes.

By Eun-Hyuk Ryu

ehryu@hankyung.com

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