Samsung Securities Reports Operating Profit of 395 Billion KRW in H1, Down 47.7% Year-on-Year

[Asia Economy Reporter Lee Seon-ae] Samsung Securities announced on the 11th that its operating profit for the first half of the year fell 47.7% year-on-year to 395 billion KRW. Pre-tax profit was 398.9 billion KRW, and net profit was 288.6 billion KRW, down 47.8% and 47.9% respectively compared to the same period last year.

Looking at the second quarter alone, consolidated operating profit decreased by 48.7% to 182.781 billion KRW, and net profit fell 48.26% to 136.819 billion KRW.

By division, the retail sector maintained a trend of strengthening its customer base despite the sluggish stock market. Retail customer deposits saw a net inflow of 8 trillion KRW in the second quarter, marking six consecutive quarters of net inflows.

The head office sales division showed varying contributions by segment. The IB division increased by 38.3% year-on-year, driven by M&A and structured finance performance. In contrast, the asset management division declined 60.8% year-on-year due to market conditions such as rising bond yields.