KTB Securities Sailing Smoothly... Record High Q1 Net Profit of 45.7 Billion Won

Stable Growth Across All Sales Divisions Including IB, FICC, and Retail

[Asia Economy Reporter Minwoo Lee] KTB Investment & Securities recorded the highest quarterly net profit ever as all business divisions grew steadily in the first quarter of this year.

On the 17th, KTB Investment & Securities announced that it posted consolidated sales of 209.5 billion KRW and operating profit of 45.4 billion KRW in the first quarter of this year. Sales increased by 46.7% compared to the same period last year, and an operating loss of 12.9 billion KRW turned into a profit. In particular, net profit reached 45.7 billion KRW, marking the highest quarterly figure since the company became a securities firm. This means it achieved 60% of last year’s total net profit in just the first quarter.

All business divisions showed stable growth. The Investment Banking (IB) division focused on stable, high-quality transactions and achieved 91% of the previous year’s total performance. The Fixed Income, Currency, and Commodities (FICC) division earned 89% of last year’s profit in the first quarter alone through the sale of structured derivatives. The Retail division grew thanks to attracting new customers and increased transaction volume.

Subsidiaries also performed well. The venture capital (VC) firm KTB Network recorded an operating profit of 19.3 billion KRW and net profit of 17.4 billion KRW, the highest quarterly profit since its corporate split in 2008. The effect of disposing of investment assets in 'Woowa Brothers,' the operator of the delivery app 'Baedal Minjok,' in March was significant. KTB Asset Management’s assets under management increased by 4.5% to 13.2 trillion KRW compared to the end of last year, and operating revenue rose 39% year-on-year.

A KTB Investment & Securities official said, "KTB Financial Group is in the process of building a stable profit structure that is not shaken by market variables," adding, "We will diversify revenue sources and develop products and services required in future markets."