Hanwha Investment & Securities announced on the 14th that its operating profit for the first quarter of this year was 26 billion KRW, and net profit was 76.6 billion KRW, both turning positive compared to the previous quarter.
As of the first quarter on a consolidated basis, total assets amounted to 14.8205 trillion KRW, and total equity was 1.6661 trillion KRW, increasing by 11.9% and 5.9% respectively compared to the end of the previous period.
Hanwha Investment & Securities stated that while all business divisions recorded profits, the Wealth Management (WM) division maintained a solid performance due to increased sales of financial products and higher individual transaction volumes amid expectations of global interest rate cuts. Meanwhile, the Investment Banking (IB) division is operating conservatively due to the real estate market downturn and strengthened risk management.
A representative from Hanwha Investment & Securities said, "Going forward, Hanwha Investment & Securities will enhance its core business competitiveness and strengthen risk management, while flexibly responding to the changing financial environment."
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