DB Financial Investment (CEO Kwak Bong-seok) announced on the 10th through a public disclosure that its operating profit based on consolidated financial statements last year reached 61.9 billion KRW, marking a 190% increase compared to the same period the previous year. Net profit for the same period rose by 323% to 52.9 billion KRW.
A representative from DB Financial Investment explained, "Despite increased market volatility due to the global economic slowdown and changes in domestic and international conditions, the performance of the IB division improved based on strengthened PIB (PB+IB) linked operations, and the Trading division maintained solid profitability due to the impact of falling interest rates."
Based on these strong results, DB Financial Investment plans to steadily implement the corporate value enhancement plans announced last year, including expanding cash dividends, repurchasing treasury shares, and implementing an employee stock ownership support system. First, the cash dividend, which has attracted significant investor interest, was set at 400 KRW per share, the second-highest dividend ever. The dividend yield based on the closing price on the 7th is 7%. Along with the cash dividend, the company also announced an additional plan to repurchase treasury shares worth 3 billion KRW following the plan announced in September last year.
Along with shareholder returns, the management has been steadily purchasing treasury shares as part of responsible management since announcing the value-up plan, and in February, the company implemented an employee stock ownership support system for employees. The company plans to accelerate efforts to enhance corporate value by establishing a virtuous cycle that promotes co-growth with employees and shares performance with investors.
Meanwhile, DB Financial Investment is planning to change its name to "DB Securities" for the first time in over eight years to enhance customer recognition. This more intuitive and popular name aims to reestablish the identity of the securities firm and approach customers with a more familiar brand. The name "DB Securities" will be finalized after the regular shareholders' meeting on the 25th.
A representative from DB Financial Investment stated, "This year, we plan to faithfully carry out corporate value enhancement plans that are friendly to shareholders and investors. In particular, leveraging the new name as a stepping stone, we will focus on expanding the customer base through the PIB business model, continuously improving profitability, and creating momentum for growth."
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