NH Investment & Securities said Monday that its consolidated preliminary results for the first nine months of this year showed an operating profit of 1.839 trillion won and a net profit for the period of 1.3489 trillion won.
The operating profit increased by 83% and the net profit for the period rose by 80%, respectively, compared to the same period last year. In particular, the net profit for the period has already surpassed last year's full-year results.
Looking at the third-quarter results alone, the operating profit was 521.1 billion won, a 23% decrease from the previous quarter but a 33% increase compared to the same period last year. The net profit for the period was 383.6 billion won, down 21% from the previous quarter but up 35% year-on-year.
In the third quarter, brokerage revenue decreased slightly due to factors such as a decline in domestic stock trading volume. Brokerage fee income recorded 231.4 billion won, a 48% decrease from the previous quarter.
However, the net profit for the period, operating profit, and net operating income all continued their double-digit growth compared to the same period last year.
According to the company, in the Investment Bank (corporate finance) division, it ranked first in corporate bond and Yeo Jeon-chae (CEO) underwriting and second in IPO (initial public offering) underwriting, demonstrating its market competitiveness.
The company also explained that in the asset management division, it maintained a conservative management stance and focused on defending profits in response to an expanded volatility in the market environment, including rising interest rates and stock market declines. Additionally, with its own capital expanding to 1.1 trillion won, it has strengthened its medium- to long-term growth foundation, including the IMA (Integrated Investment Account) business.
An official from NH Investment & Securities said, "Going forward, we will expand corporate finance supply through the IMA business and continuously enhance our customer asset management competitiveness."
The official added, "We will strengthen linked businesses across divisions such as WM (wealth management), IB, and asset management to improve our ability to respond to market volatility and build a stable and sustainable profit structure."
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