NH Investment & Securities Reports Operating Profit of 545.7 Billion KRW in H1, Up 16% YoY

NH Investment & Securities announced on the 25th that it recorded an operating profit of 545.7 billion KRW and a net profit of 422.7 billion KRW in the first half of this year. These figures represent increases of 16% and 15%, respectively, compared to the same period last year. This is the first performance report since CEO Yoon Byung-woon took office, showing excellent results across all business divisions.

NH Investment & Securities stated, "Since CEO Yoon Byung-woon’s inauguration, he has spared no effort in fully supporting the strengthening of capabilities across all divisions, including providing competitive financial products and services in the Wealth Management (WM) sector, enhancing competitiveness in the Investment Banking (IB) division, and reinforcing risk management in the Trading and Asset Management divisions. As a result, outstanding performance was achieved in the first half of the year."

With the increase in domestic market trading volume in the first half, brokerage commission income improved to 235.3 billion KRW compared to the same period last year. Sales of financial products such as foreign currency bonds and Wraps, as well as revenue from overseas private alternative investment sales, also increased financial product sales commission income to 58.8 billion KRW. Additionally, through a continuous digital channel strengthening strategy, entrusted assets via digital channels increased by approximately 9 trillion KRW compared to the same period last year.

The IB division maintained a top-tier position in the league tables amid fierce competition in the debt capital market (DCM) and equity capital market (ECM), achieving second place in corporate bond lead management and underwriting, first place in asset-backed securities lead management, and second place in rights offering underwriting. Furthermore, by providing a complete service package linking tender offers and acquisition financing, NH Investment & Securities achieved an overwhelming market share in the tender offer market in the first half of 2024. A company representative said, "This is the result of efforts to reduce volatility through proactive risk management and provide differentiated IB services." They added, "IB-related revenue also reached 280 billion KRW due to improved commission income and increased valuation gains on non-marketable assets, resulting in excellent performance."

The Asset Management division recorded revenue of 542.6 billion KRW, a 10.4% increase compared to the same period last year, by defending profits through conservative management despite the ongoing tightening monetary policy and rising global economic uncertainties.

An NH Investment & Securities representative said, "We will strengthen the supply system of customized products and services by building a customer-centric, fully integrated platform that can quickly respond to internal and external environmental changes." They continued, "We will also actively seek risk management and diversification of new revenue sources through proactive responses to regulatory changes in areas such as digital asset management and venture capital investment, continuing efforts for quantitative and qualitative co-growth."