KB Securities third quarter operating profit of 381 billion won... 37%↓ (overall) compared to the previous quarter in a bear market

69% increase compared to the same period last year... Sales increased 98%↑ and 56%↓ compared to the previous year and the previous quarter, respectively.

(Seoul = Yonhap News) Reporter Go Eun-ji = KB Securities announced on the 29th that its consolidated operating profit in the third quarter of this year was provisionally calculated to be 381 billion won, an increase of 69.1% from the same period last year.

Sales were KRW 5.4415 trillion and net profit was KRW 273 billion, up 98.1% and 70.6%, respectively, compared to the same period last year.

However, compared to the previous quarter, both sales and operating profit decreased.

Sales decreased by 55.7% and operating profit by 36.6% compared to the second quarter of this year. Net profit decreased by 39.4%.

KB Securities reported that the asset management (WM) division actively responded to changes in the investment environment and recorded a cumulative total operating profit of KRW 1.5 trillion for the WM business quarter.

A KB Securities official said, "We have solidified the foundation for WM growth by focusing on protecting customer assets by providing timely products and operating a crisis response system in response to the expansion of stock market volatility," and added, "We will continue to expand digital customers by establishing an asset growth-type investment platform and expanding artificial intelligence (AI)-based investment information services."

The corporate finance (IB) sector pursued expansion of sales capabilities for each business amid continued market volatility due to increased internal and external uncertainty risks.

For example, the company evaluated itself as having led the acquisition financing market based on 7 mid-sized initial public offerings (IPOs) and multiple paid-in capital increases, and 14 blue-chip acquisition financings at home and abroad. Maintaining stable profitability through quality deals with the Housing and Urban Guarantee Corporation (HUG) and continuing the expansion of investment-type IB were also seen as having a positive impact.

Despite increased market volatility, the Capital Markets Group continued its profit growth by improving profits and losses from stock and equity-linked securities (ELS) operations and its own hedging operation.

The company announced that the wholesale division achieved its highest ever cumulative performance in the third quarter by strengthening its global sales platform and enhancing core business profitability.